NZD/USD Signal Update
Yesterday’s signals were not triggered as the price had broken above 0.7025 by 8am New York time.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time only.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.0.7025.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7107.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
NZD/USD Analysis
This pair was again yesterday the most bullish of the all the more major Forex currency pairs. New resistance to support has been printed at 0.7025. There are no obvious obstacles in sight before 0.7107 and the outlook remains strongly bullish.
There is nothing due today regarding the NZD. Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.