NZD/USD Signal Update
Last Thursday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am New York time and 5pm Tokyo time only.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6720.
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.
Short Trade 2
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
We have been drifting downwards though no-man’s land, but we do seem to have a new flipped level from support to resistance at 0.6720. The price is rising fairly convincingly at the time of writing, so be careful taking a short here: the price action would need to look very bearish. Otherwise, the key levels at 0.6790 and 0.6625 look good, especially 0.6625.
There is nothing due today concerning either the NZD or the USD. It is a public holiday in New Zealand.