NZD/USD Signal Update
Last Thursday’s signals produced a winning long trade good for 20 pips following the rejection of support at 0.6955.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time today only.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6825 or 0.6762.
Place 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.
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 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6900 or the trend line currently sitting at around 0.6920, or 0.6955.
Place 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.
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
This pair has fallen off very strongly since last week’s bullish U.S. Dollar reversal, with a break of a major trend line and some very clear horizontal levels flipping from support to resistance. The price is currently sitting on one of these right now at 0.6875.
Retests of any of the above levels should be fruitful locations in which to search for short trades.
There is nothing due today regarding either the NZD or the USD.