NZD/USD Signal Update
Yesterday’s signals were not triggered as there was no sufficiently bullish price action at 0.7163.
Today’s NZD/USD Signals
Risk 0.50%
Trades may only be taken from 8am New York time until 5pm Tokyo time, over 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 0.7079 or 0.7119.
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 0.7238.
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
There is little to say except that there is probably some minor resistance just underneath the 0.7200 level.
There is a long-term upwards trend, so the support levels below look attractive places at which to watch out for bullish reversals.
There is nothing of high importance due today concerning the NZD. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.