NZD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am New York time and 5pm Tokyo time.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6790.
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.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6625.
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.
NZD/USD Analysis
This pair has been falling, printing new resistance at 0.6790. As the price has cut quite easily through an area of minor resistance at around 0.6740, it looks quite clear that the price is now going to continue down to 0.6625, which might be an excellent support level. So the bias should definitely be bearish in the meantime.
Regarding the USD, there will be a release of Crude Oil Inventories data at 2:30pm London time. Concerning the NZD, there will be a release of Trade Balance data at 9:45pm.