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 Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7079.
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 0.7200.
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
This pair has taken a much more bearish turn over recent days. Like the AUD/USD, it was threatening to take off in an upwards direction but failed completely, selling off heavily from the round numbers at both 0.7300 and even 0.7200, the latter of which had been strong, long-term support. There is now little to stop the price falling further to 0.7079.
There is nothing due today regarding either the NZD or the USD. It is a public holiday in the United States today.