Yesterday’s signals were not triggered as none of the key levels were reached again during the given time slot.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York time and 5pm Tokyo time, during the next 24-hour period.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7010.
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 run.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.7068.
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 run.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
NZD/USD Analysis
This pair’s recent rise is continuing to gain pace, but it is muted compared to most other currencies against the USD. The long-down downwards trend is over, provided the price remains above the key support level just above 0.7000.
The resistance at 0.7068 still looks strong.
There is nothing due today regarding the USD. Concerning the NZD, there will be a release of GDT Price Index data late in the New York session.