NZD/USD Signal Update
Last Thursday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered from 8am New York time to 5pm Tokyo time over the next 24 hours only.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7235, 0.7158 or 0.7141.
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.
Short Trades
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7398 or 0.7483.
Put 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.
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 have been noting this pair’s firm, long-term bullish trend and it has given some very nice long pips over recent days which is not a surprise. It shows every sign of being set to continue, although it should be noted that the price is reaching an area which was historically more congested. Nevertheless we continue to see a lot of buying every time the price dips and if the risk rally continues, this pair should keep going up too.
There is nothing due today concerning either the NZD or the USD.