NZD/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were reached.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time until 5pm Tokyo time, over the next 24 only.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7200 or 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 Trades
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7266 or 0.7290.
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
It is interesting that the lows at 0.7200 are holding, so even though we had that really strong down day very recently from which the price has not yet truly recovered, you have to say that the potential for an upwards resumption is still there and that the support at 0.7200 looks to be strong.
There is nothing due today concerning the NZD. Regarding the USD, there will be a release of the ADP Non-Farm Employment Change data at 1:15pm London time, followed by Crude Oil Inventories at 3pm.