Technical Analysis Free Forex Signals NZD/USD Forex Signal - 14 March 2018 NZD/USD Forex Signal - 14 March 2018 Wednesday, 14 March 2018 12:40 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered as the price never reached any of the key levels. Today’s NZD/USD Signals Risk 0.75% Trades may be taken between 8am New York time and 5pm Tokyo time, during the next 24-hour period only. Short Trade Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7374. 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 0.7323 (if it holds up into the New York open without being broken) or the supportive trend line which is currently sitting at about 0.7295. 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 I wrote yesterday that there was no reason not to be bullish on this pair as all signs were pointing to still higher prices. This is still true, although the technical picture looks a little less bullish than it did yesterday. Although the supportive trend line has not even been tested, and a new flipped resistance to support level at 0.7323 has been established and has also held so far, the initial sign of a double top above is a little worrying for bulls. Nevertheless, there is no reason to turn bearish yet. There is no real long-term trend in this pair, so it is better to follow the medium-term trend which is bullish. However, it should be noted that the area above 0.7400 has acted as resistance over a period lasting almost three years. Regarding the USD, there will be a release of Retail Sales and PPI data at 12:30pm London time, followed later by Crude Oil Inventories at 2:30pm. Concerning the NZD, there will be a release of GDP data at 9:45pm 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.