NZD/USD Signal Update
Yesterday’s signals were not triggered as there was insufficiently bullish price action at 0.7079.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period only.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7013.
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 Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7117.
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
This pair has continued its bearish breakdown. The Australian and New Zealand Dollars are currently some of the weakest performers against the USD which is strong across the board. However, there is some hope here for bulls as the key area around 0.7000 has not yet been breached and there could be a rebound at 0.7019 or even 0.7062, which is giving some support to the price right now as at the time of writing.
There is nothing due today regarding either the NZD or the USD.