NZD/USD Signal Update
Yesterday’s signals were not triggered as there was no bullish price action off 0.6590 during the time limit.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken between 8am New York time and 5pm Tokyo time.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6590 and 0.6557.
* 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 0.6747 and 0.6770.
* 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
This pair is looking interesting right now as it makes sense to hold a bullish bias due to the supportive trend line holding up. We are now just sitting close to the trend line which is confluent with a supportive zone and a round number. Once New York comes online, a nice bounce here with a weakening USD could see a good opportunity to start building a long position.
There is nothing due today concerning either the USD or the NZD.