NZD/USD Signal Update
Yesterday’s signals were not triggered and have expired.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be made 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 0.6408.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Remove 50% of the position as profit when the trade is 30 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 0.6549.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Remove 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.
NZD/USD Analysis
This pair has been very bearish along with its sister pair AUD/USD, but it seems to be bottoming over the past few days at about 0.6325. However the moves up from there have been very muted so it seems most probable that we will break below that level next rather than break up past 0.6408. If we do get back to that level, it should be likely to give a good opportunity to go short.
There is nothing due today regarding the NZD. Concerning the USD, there is be a release of ADP Non-Farm Employment Change data due at 1:15pm London time.