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 today.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6862.
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.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6773 or the broken bearish trend line currently sitting at around 0.6710.
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.
NZD/USD Analysis
The price managed to break up above the previous resistance at 0.6804, and is now being supported close the round number at 0.6800. However it feels as if the price is quite likely to pull back to 0.6773 where it could be very well supported for another strong upwards move.
The NZD is definitely looking like one of the more bullish currencies at the present time.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of the ADP Non-Farm Employment Change at 1:15pm London time, followed by Unemployment Claims data at 1:30pm and Crude Oil Inventories at 4pm.