NZD/USD Signal Update
Yesterday’s signals were not triggered and expired as none of the key levels were hit.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am to 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 0.6700.
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 ride.
Long Trade 2
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6631.
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 ride.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6872.
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
This pair remains stuck right in the middle in between the two closest key support and resistance levels that I have identified.
It is not surprising that this pair is very quiet right now as major central bank policy announcements are due tomorrow for both currencies. Very little is likely to happen until these releases are made.
Regarding the USD, there will be a release of Core Durable Goods Orders data at 1:30pm London time, followed by CB Consumer Confidence at 3pm. There is nothing due concerning the NZD.