NZD/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were ever reached.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period only.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6859 or 0.6842.
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 Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6950.
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
Interestingly, over the recent sessions the NZD has become disconnected from the AUD, with which it is usually highly positively correlated: the AUD has been falling, while the NZD has been rising, although at the time of writing the NZD has also started to fall.
The chart suggests a short-term bullish trend may be sticking, so could take us up to the next resistance level. The resistance probably would make itself felt 20 or so pips before the actual level is reached.
There is nothing due today regarding either the NZD or the USD.