NZD/USD Forex Signal - 28 March 2017

Yesterday’s signals were not triggered as none of the key levels were ever reached.

Today’s NZD/USD Signals

Risk 0.75%
Trades may only be taken between 8am New York time and 5pm Tokyo time, during the next 24-hour period.

Long Trade 1

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6996.
  • 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 run.

Short Trade 1

  • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.7087 and 0.7114.
  • 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 run.

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

NZD/USD Analysis

This pair is not very interesting, with the focus mostly on European currencies on the Japanese Yen at present. The best opportunity that might arise here would probably be if the price falls quickly to the support level at 0.6996 and begins a strong bullish reversal.

NZD/USD Signal

There is nothing due today regarding the NZD. Concerning the USD, there will be a release of CB Consumer Confidence data at 2pm London time.

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.