NZD/USD Signal Update
Last Thursday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time until 5pm Tokyo time.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6807, 0.6791 or 0.6862.
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 0.6862 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
The bearish momentum has continued, with formerly supportive levels flipping to become resistance. However we now may be finding a bottom close to 0.6800 where there is plenty of support and two key levels very close by. The new resistance at 0.6862 is likely to be a strong and key hurdle to any bullish resumption.
There are no high-impact events due today concerning either the NZD or the USD.