NZD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered from 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 touch 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 touch of the broken trend line currently sitting at 0.6640.
* 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
There has been no real technical change at all, with the key levels holding and a possible quick scalp off the bearish trend line. Apart from that there is really nothing else to add.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time.