NZD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time only.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6500.
* 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 0.6591.
* 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
I wrote yesterday that if we could not break up above 0.6600 quite soon and stay above that level, then we would probably see another fall, but I thought the price will manage to break above 0.6600. So far we do not have an answer with the price remaining very flat. It is quite possible that this will remain the situation for another 24 hours or so with little action and no levels being broken decisively or possibly even reached.
There is nothing due today concerning the NZD or the USD.