NZD/USD Signal Update
Yesterday’s signals were not triggered, as the low was unfortunately made a few pips above the anticipated support at 0.6874.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time.
Short Trade 1
Go short following a very bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7025.
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 0.6874.
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
This pair had been falling off during the Asian session but has recovered with an upwards thrust over the London session so far today. It will probably be relatively quiet until later during the New York session, after the Unemployment Claims data is released. The picture remains bullish overall and the supportive level at 0.6874 looks very attractive for a potential long trade.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of Unemployment Claims at 3:30pm London time.