NZD/USD Signal Update
There are no outstanding signals.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
- Go short following bearish price action on the H1 time frame immediately upon the next touch of 0.6750.
- 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.
Short Trade 2
- Go short following bearish price action on the H1 time frame immediately upon the next touch of 0.6872.
- 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.
NZD/USD Analysis
This pair is the most strongly trending of all the notable currency pairs. It is more a case of NZD weakness than USD strength, but as the USD begins to strengthen more the bearish flow here could continue and remain really “clean”.
NZD is weak across the board and is going down against just about every other currency. As the USD is more or less the strongest currency around, trading this pair short has been a great place to be.
We may be in the middle of some kind of pull back. This could provide good shorting opportunities, with 0.6750 looking especially appropriate for a renewal of the downwards move.
There are high-impact events scheduled today concerning both the USD and the NZD. At 3pm London time there will be a release of U.S. ISM Non-Manufacturing PMI data. At 11pm the NZIER Business Confidence Survey result will come out.