Technical Analysis Free Forex Signals NZD/USD Forex Signal - 14 November 2017 NZD/USD Forex Signal - 14 November 2017 Tuesday, 14 November 2017 12:48 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bullish price action at 0.6865. 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-hour period only. Long Trade 1 Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6806. 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 Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.6915. 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 The situation is looking more bullish, after the price fell strongly over recent hours, breaking cleanly through and invalidating an important zone of anticipated support. The past few hours have seen a strong bullish “V” formation which signals an obvious and timely exit from any short trades. It is therefore difficult to forecast the short-term movement over the next few hours, and as the key levels are a relatively long way away from the current price, they will probably not be reached today. There can be some interesting opportunities in this pair, but probably not in the next few hours. I will be comfortable taking a bearish bias. There is nothing important due today concerning the NZD. Regarding the USD, there will be a release of PPI data at 1:30pm London time. Currency Pairs USD/NZD Adam Lemon 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.