NZD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am to 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 0.6700.
Put the stop loss 1 pip below the local swing low.
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.
Long Trade 2
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6631.
Put the stop loss 1 pip below the local swing low.
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.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6872.
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 continues to range in between its key levels.
It is not surprising that this pair does not have a clear direction right now as major central bank policy announcements are due tonight for both currencies.
The NZD has been the strongest of all the global currencies for a few weeks now, and although its advance has paused, if the FOMC release causes the market to see the USD as softer, this is probably going to be the key pair to exploit that move, provided the RBNZ does not react by also seeking to weaken the NZD, which is a real danger.
Regarding the USD, there will be a release of the FOMC Statement and Federal Funds Rate at 6pm London time. Concerning the NZD, there will be a release of the RBNZ Rate Statement and Official Cash Rate at 8pm.