NZD/USD Daily Forecast 24th November 2015
NZD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time today only.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6500.
* 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 ride.
Long Trade 2
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of the broken inner bearish trend line, currently sitting at around 0.6470.
* 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 ride.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6600 and 0.6636, especially if the bearish rejection is confluent with the higher bearish trend line.
* Place 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.
* 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
Very little has happened over the past 24 hours. The only significant thing we can find on the map right now is that the key level of 0.6500 seems to be quite strongly established as support, so the line of least resistance seems to be upwards for the time being. Poor USD news later would make this an attractive pair to be long of (as well as AUD/USD).
Regarding the NZD, there is nothing due today. Concerning the USD, there will a release of Preliminary GDP data at 1:30pm London time followed by CB Consumer Confidence at 3pm.