NZD/USD Signal Update
Last Thursday’s signals expired without being triggered as none of the key levels were hit.
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
Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6668.
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.
Short Trade 2
Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6761.
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
In my previous forecast last Thursday I wrote that this pair is now looking more bearish than its sister AUD/USD and the remains the case. Also like AUD/USD, the action over the past couple of days has been quiet and will most probably remain so today, until we get some important news releases for both currencies later in the week.
This pair could be a great pair to be short of if the FOMC release on Wednesday will be bullish for the USD.
There is nothing due today regarding either the NZD or the USD.