NZD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
- Go short following bearish price action on the H1 time frame immediately upon the next touch of 0.6762.
- Put the stop loss 1 pip above the local swing high.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 2
- Go short following bearish price action on the H1 time frame immediately upon the next touch of 0.6800.
- Put the stop loss 1 pip above the local swing high.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
NZD/USD Analysis
This pair, which over recent months has been trending more strongly than any other USD pair, has continued a relatively slow decent from its recent retracement to resistance at 0.6762.
Local support can be expected at around 0.6625. It will probably take the U.S. news due later today to move this pair’s price significantly.
There is nothing due today regarding the NZD. Concerning the USD, there will be a release of Retail Sales data at 1:30pm.