NZD/USD Signal Update
Last Thursday’s signals were not triggered as neither of the key levels were reached.
Today’s NZD/USD Signals
Risk 0.50%
Trades may only be entered between 8am New York time and 5pm Tokyo time, over the next 24-hour period.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6938.
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 Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7048.
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 most interesting thing about this pair is that it is mostly following AUD/USD, but it is less bullish. For many months, it has been the other way around.
We have seen 0.6950 act as support, which is logical, and I think if the price reaches below that and hits 0.6938, that could be a decisive level at which to get long.
There is nothing due today regarding either the NZD or the USD.