NZD/USD Signal Update
Last Thursday’s signals were not triggered as the bullish price action took place below the anticipated support level at 0.7107.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time only.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6981 or 0.6945.
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 ride.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7100.
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 ride.
NZD/USD Analysis
This pair was looking very bullish but it has sold off and finally breached the very steep trend line. However it has been rising again since the week opened. It has to be said that overall the pair is in an upwards trend, however there are probably still some good short trades possible, most notably at the confluence of the broken trend line and the round number at 0.7100.
There is nothing due today concerning either the NZD or the USD.