NZD/USD Signal Update
Last Thursday’s signals were not triggered as unfortunately the price did not quite reach 0.6773.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time to 5pm Tokyo time only
Short Trades
No short trades today.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6862, 0.6795 or 0.6773.
Put 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.
Remove 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
I wrote last Thursday that “the NZD is definitely looking like one of the more bullish currencies at the present time” and it did indeed benefit strongly from the sudden weakening of the USD last Friday, and has made a new high at 0.6950 and broken up past a key resistance level.
Overall the picture looks very bullish, although this pair does tend not to trend so very strongly, but there is no key resistance for a long way above, suggesting that the price has plenty of room to rise.
The closest round number below at 0.6900 may act as support, but the nearest key flipped level is at 0.6862.
There is nothing due today concerning the NZD. Regarding the USD, the Chair of the Federal Reserve will be speaking at 5:30pm London time.