NZD/USD Signal Update
Last Thursday’s signals were not triggered as there was no bearish price action at 0.7034.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time to 5pm Tokyo time, during the next 24-hour period only.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7034.
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
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7110.
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 has been the strongest currencies over the past few days, surpassing even the U.S. Dollar.
This pair has been bought quite strongly since the weekly open but the resistance close to the round number at 0.7100 level has so far proved too tough to crack.
We are getting a pull back now but there is every reason to believe there will be another push up later, unless the USD gets strong again.
There is nothing due today concerning either the NZD or the USD.