NZD/USD Signal Update
Yesterday’s signals may have produced a losing long trade if the very large bullish candle rejecting the anticipated support level at 0.6904 had been taken.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time to 5pm Tokyo time today.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6925.
Place 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.
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 Trades
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6904 or 0.6942.
Place the stop loss 1 pip above the local swing high.
Move 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 followed the USD strength very well technically, with both of the key levels that were reached flipping precisely to become newly resistant levels.
There are no high-impact events due today concerning the NZD. Regarding the USD, there will be a release of the ADP Non-Farm Employment Change at 1:15pm London time, followed by the ISM Non-Manufacturing PMI data at 3pm and Crude Oil Inventories at 3:30pm.