NZD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be made between 8am and 5pm New York time only, or after 8am Tokyo time later.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6298.
Place 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.
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 some bearish price action on the H1 time frame immediately upon the next touch of 0.6549.
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
The NZD has risen fairly strongly and we are now challenging the high of last week. In this move up, it appears that new support has been printed at around 0.6300. However as we are close to a recent significant swing high, there is a good chance the price will reverse shortly and begin to fall.
There is nothing important due today regarding the NZD. Concerning the USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by ISM Manufacturing PMI at 3pm.