NZD/USD Signal Update
Yesterday’s signals were not triggered as the bullish price action eventually occurred below the anticipated support level of 0.7235.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am New York time and 5pm Tokyo time over the next 24 hours only.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7211.
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 0.7398 or 0.7483.
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
Very bullish sentiment and environment within a bullish long-term trend. The risk assets rally is benefiting a commodity currency such as the NZD, and one that pays a high rate of interest too, making it even more attractive.
It is worth noting as I mentioned yesterday that the area at around 0.7300 sees the start of a price range that was historically quite congested, so it may well take more time and effort for the price to really advance much beyond here
.
There is nothing due today concerning either the NZD or the USD.