NZD/USD Signal Update
Yesterday’s signals produced a short trade off the bearish outside candle rejecting the identified resistance level at 0.7483. The trade is still open although at a floating loss as at the time of writing.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time to 5pm Tokyo time, during the next 24-hour period.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7398.
* 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 run.
Short Trades
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7483.
* 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 run.
NZD/USD Analysis
Yesterday the price made another new 15-month high, although it may be sticking now at the resistance level of 0.7483. In spite of that we have a short term bullish trend, medium term bullish trend, and a long term bullish trend! The outlook is bullish and this is a great vehicle to hold onto long if you expect the USD to continue to gradually weaken and you want to profit from that. Most brokers will be paying a positive overnight rate on this pair too, or at least something close to it.
There is nothing due today concerning the NZD. Regarding USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by Crude Oil Inventories at 4pm.