NZD/USD Signal Update
Yesterday’s signals expired without being triggered.
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 0.6668.
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 0.6761.
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.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6500 and 0.6466.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the price reaches 0.7300 and leave the remainder of the position to run.
NZD/USD Analysis
The price is currently equidistant from the nearest key support and resistance levels. We have important data on both sides of the currency pair due later today so that could be a catalyst for some more significant movement than we have seen, although of course there is the FOMC tomorrow that will be almost certainly be still more crucial in determining direction.
Concerning the NZD, there will be a release as Asia opens of GDT Price Index numbers. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time.