NZD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am New York time and 5pm Tokyo time.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6557 and 0.6544.
* 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.
NZD/USD Analysis
It is very difficult to say much about this pair, apart from there is a slight bullish bias over the long-term, and the price is approaching a key support area which could be a good opportunity for a long trade entry in line with that small long-term directional bias.
There are not really any key levels anywhere else nearby, and if this zone is not hit, the action is probably going to be duller here than it will be with any of the other major USD currency pairs.
Concerning the NZD, there will be a release of GDP data at 9:45pm London time. Regarding the USD, there will be a release of Building Permits and CPI data at 12:30pm, followed later by Crude Oil Inventories at 2:30pm and then the FOMC releases commencing at 6pm.