NZD/USD Forex Signal - 25 July 2016

NZD/USD Signal Update

Last Thursday’s signals were not triggered.

Today’s NZD/USD Signals

Risk 0.75%

Trades must be entered between 8am New York time and 5pm Tokyo time over the next 24 hours.

 

Long Trade 1

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6945.

  • 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

  • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7017 or 0.7068.

  • 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

The price has been consolidating but it does suggest there is a chance of an upwards move, with a fairly long trend line being broken to the upside. The confirmation of the beginning of such a move would come with a bullish break above the resistance level at 0.7017. The support at 0.6945 is a very key level.NZDUSD

There is nothing due today concerning either the NZD or the USD.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.