Today’s NZD/USD Signals
Risk 0.50%.
Trades may only be entered from 8am New York time until 5pm Tokyo time, over the next 24-hour period.
Short Trades
- Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6630 or 0.6675.
- 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.
Long Trades
- Long entry following bullish price action on the 1H1 time frame H1H1H1 time frame immediately upon the next touch of 0.6500 or 0.6460.
- 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.
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
The New Zealand Dollar and the Australian Dollar remain under pressure as market concerns continue to grow, especially those related to the imminent imposition of more US tariffs at a record rates of up to $200 billion. The aggravation of the global tariff war increases the strength of the US dollar. The pair will continue to be under bearish pressure as seen on the daily chart below. The move below the 0.6500 support level since January 2016 will also increase downward pressure on this pair.
There is nothing important due today concerning the USD. Regarding the NZD, there will be the release of the sales of industrial goods data.