NZD/USD Signal Update
Yesterday’s signals expired without being triggered.
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.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6647.
Place 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.
Take off 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 2
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6549.
Place 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.
Take off 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 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6761 and 0.6801.
Put 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.
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’s strong upwards move has continued to power up. The NZD and AUD are very highly positively correlated right now. Bullish momentum is there but we are now approaching an area that has acted as strong resistance in the past and which will be very likely to at least cause a pause in any continued upwards movement. This resistant area will probably begin at around 0.6762.
A pull back to 0.6647 or lower will probably give a good opportunity to get long.
There are no high-impact releases due today concerning either the NZD or the USD. It is a public holiday today in the USA.