NZD/USD Forex Signal - 13 October 2015

NZD/USD Signal Update

Yesterday’s signals expired without being triggered.

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

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6647.

  • Put 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.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

 

Long Trade 2

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6549.

  • Put 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.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

 

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 0.6761 and 0.6801.

  • Place 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.

  • Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

NZD/USD Analysis

It seems that the pause I was expecting yesterday in this pair’s strong advance came a little early, as we have been retreating from the high made at 0.6740. Earlier today, the price came within just a few pips of my anticipated nearest support at 0.6647, although it does not look quite ready to begin rising again yet as at the time of writing.

NZDUSD

There are no high-impact releases due today concerning the NZD or the USD.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.