NZD/USD Signal Update
Yesterday’s signals expired without being triggered as neither of the key levels were reached.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time, during the next 24 only.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7200 or 0.7150.
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
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7266 or 0.7290.
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 price got close to its nearest resistant area during the Asian session and has fallen since then. Sentiment is still positive generally in the market on the U.S. Dollar and that is unlikely to change unless the consumer confidence data due later today is significantly poorer than expected. If that should happen, as the NZD is relatively strong, it could boost this pair and we would then see an upwards move, likely to be all the stronger if the 0.7200 level is reached first.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.