NZD/USD Signal Update
Last Thursday’s signals were not triggered as neither of the key levels were reached.
Today’s NZD/USD Signals
Risk 0.50%
Trades must be entered between 8am New York time until 5pm Tokyo time, during 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 0.7150.
* 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
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7306.
* 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 end of last week saw this pair continue to fall fairly steadily off its weekly high a little above 0.7300. The action suggests that we will probably reach 0.7150 before 0.7306. The NZD seems genuinely weaker than it has been for a while, as has been seen in its long-term bullish trend, so the 0.7306 might mark a major high.
There is nothing of high importance due today concerning either the NZD or the USD.