NZD/USD Signal Update
Last Thursday’s signals produced a profitable short trade off the bearish reversal from the zone between 0.6747 and 0.6770.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered from 8am New York time to 5pm Tokyo time.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the trend line currently sitting at around 0.6676.
* 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.
Long Trade 2
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6719.
* 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.
Short Trade 1
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6875.
* 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.
NZD/USD Analysis
I wrote last Thursday that “this pair has been pulled up by its sister pair the AUD/USD, but more weakly so.” That is exactly what continues to happen. Things look bullish, but there is no breakout above multi-month highs so it is a more muted bullishness.
There is nothing due today concerning either the NZD or the USD.