Technical Analysis Free Forex Signals NZD/USD Forex Signal - 21 February 2018 NZD/USD Forex Signal - 21 February 2018 Wednesday, 21 February 2018 12:11 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered as there was no bullish price action at 0.7347. Today’s NZD/USD Signals Risk 0.50% Trades may only be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period. Short Trades Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7374 or 0.7460. Put 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 ride. Long Trades Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7326 or 0.7273. Put 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 ride. 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 Yesterday I wrote that a long trade looks unlikely to work well unless the conditions change, though I thought this pair is likely to give more profit from a good long trade than a good short trade, as the long-term condition is relatively bullish. This was a good reflection of what happened, with the price breaking a little lower before finding new support to rise from at 0.7326. However, the picture has not truly changed, the price is still moving within a formation which is almost a bearish price channel, so it seems impossible to make a confident forecast on this pair today. There is nothing due today concerning the NZD. Regarding the USD, there will be a release of FOMC Meeting Minutes at 7pm 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.