NZD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered from 8am New York time to 5pm Tokyo time over the next 24 hours only.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7211.
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 Trades
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7398 or 0.7483.
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
The picture is still one of a 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.
We have had a decent pull back following by a bullish V shape candlestick formation, suggesting another upwards thrust is occurring that might exceed 0.7320.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.