NZD/USD Forex Signal

13 September 2017 9:28:00 AM

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 Trade 1

  • Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7216.
  • Place 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

  • Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7337.
  • Place 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

There has been no meaningful change to the overall picture since yesterday, which continues to look bullish, with no key lower low yet breaking the pattern. I maintain a bullish bias and the NZD looks stronger than the AUD, with which it is usually strongly positively correlated. I am a little less bullish than yesterday as the price is consolidating with lower volatility and going nowhere.

NZDUSD

There is nothing due today concerning the NZD. Regarding the USD, there will be a release of PPI data at 1:30pm London time, followed by Crude Oil Inventories at 3:30pm.

Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.

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