NZD/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at 0.7398.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York time and 5pm Tokyo time, over the next 24-hour period.
Long Trades
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7398.
* 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 0.7483.
* 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 NZD is more bullish than any other currency, uniquely continuing to rise above the USD during the first half of the London session when just about everything else is dropping off a bit. The NZD’s rise against the USD over the initial period following the announcement of poor U.S. data was also impressive.
The pair is in a long-term trend and it is at times like these when trend-following can pay off.
It just looks very bullish, we even had a really classic flip of strong resistance to support at 0.7398 over recent hours.
At the moment the price is making new 15-month highs.
There is nothing due today concerning the NZD or the USD.