NZD/USD Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at either 0.6870 or 0.6850.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time until 5pm Tokyo time.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6825 or 0.6762.
Put 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.
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.
Adjust 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 fell quite sharply yesterday as the USD performed strongly, but has bounced back. The fall cut through the key levels so those can be seen as invalidated, with new levels to watch out for.
A break up above 0.6875 will be a bullish sign. Today’s action will probably now depend upon the key U.S. data due shortly after New York opens.
There is nothing due today regarding the NZD. Concerning the USD, there will be releases of CPI and Unemployment Claims data at 1:30pm London time.