NZD/USD Signal Update
Yesterday’s signals were not triggered.
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
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 Trades
Go short 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 0.6930, or 0.6955.
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 has turned quite bullish over recent hours and the action does suggest that the resistance level at 0.6900 will hold. However the trend line should be strong, so a fast move up to that has a very high chance of holding. A trip back to 0.6825 is extremely unlikely to happen over the next 24 hours.
Regarding the USD, there will be a release of Core Durable Goods Orders data at 1:30pm London time, followed later by CB Consumer Confidence data at 3pm. There is nothing due concerning the NZD.