NZD/USD Signal Update
Last Monday’s signals were not triggered as none of the key levels identified were reached during that session.
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 0.7133 or 0.7110.
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 Trades
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7177 or 0.7227.
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
The NZD has continued for another day as the strongest of all the major global currencies over the past few days, surpassing even the U.S. Dollar.
If the U.S. Dollar really starts to weaken, this pair should really take off. The NZD is even stronger against the Japanese Yen.
Despite the bullishness, it is probable that the area above 0.7177 is going to be too strong to break any time soon.
There is nothing due today regarding the NZD. Concerning the USD, there will be a release of the ADP Non-Farm Employment Change at 1:15pm London time, followed later by Crude Oil Inventories at 3:30pm.