NZD/USD Signal Update
Yesterday’s signals were not triggered as neither of the key levels were reached.
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
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7182.
* 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 0.7228.
* 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 bullish bias which I mentioned yesterday is definitely looking more pronounced today. There is a fairly clear trend line stretching back more than 2 weeks now which is driving the price up. A break up above 0.7228 will be a very bullish sign.
Note this is all part of a much longer-term bullish trend, it just has lots of deep pull backs so it is not always obvious.
There is nothing due today regarding either the NZD or the USD.