NZD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered from 8am New York time to 5pm Tokyo time only.
Short Trade 1
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6790.
* 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.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6625.
* 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.
NZD/USD Analysis
I wrote yesterday that the price looked to be headed downwards, and we have seen a further fall. However it now looks as if the price is consolidating and possibly even beginning to turn ahead of the key U.S. economic data releases due shortly after New York opens for business.
This pair is ranging over the long-term, so either shorts or longs are likely to be just as good.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 12:30pm London time.