NZD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time only, during the next 24 hours.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7300 or 0.7260.
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 Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7398.
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 long-term bullish trend continues in this pair, and it seems we have new support at 0.7300 but it looks as if it might be broken in the short-term. However, it is there, and could be good for at least a few long pips.
This pair is showing one of the steadiest trends in the Forex market.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 1:30pm London time.