NZD/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at 0.7110.
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 0.7072.
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 0.7160.
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 broke the resistance at 0.7110 but reversed clearly after making a long-term double top at the 0.7160 price level. Below, there is a bullish Quasimodo making a supportive floor at the 0.7072 level. Within this area, we are probably now going to see a consolidation pattern, and it is difficult to predict much more than that.
There is nothing due today regarding the USD. Concerning the NZD, there will be a release of GDT Price Index data, followed by testimony from the Governor of the RBNZ before Parliament at 10pm London time.