NZD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York time and 5pm Tokyo time.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6981 or 0.6945.
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 run.
Short Trades
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7080 or 0.7100.
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 run.
NZD/USD Analysis
The price has been falling off and we can just about make out another flipped level at 0.7080 that would logically act as resistance if retested.
Below, there is also arguably minor support at 0.7020, so we could be set for some consolidation between 0.7020 and 0.7080.
This is not one of the most exciting Forex currency pairs to be trading at the present time.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of Retail Sales data at 1:30pm London time.