Technical Analysis Free Forex Signals NZD/USD Forex Signal NZD/USD Forex Signal Thursday, 19 July 2018 9:18 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action at 0.6788. Today’s NZD/USD Signals Risk 0.50%. Trades may only be taken between 8am New York time and 5pm Tokyo time, over the next 24-hour period. Short Trades Go short following bearish price action on the H1 time frame immediately upon the next touch of 0.6788 or 0.6804. 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. Long Trade Go long following bullish price action on the H1 time frame immediately upon the next touch of 0.6675. 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. 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 I had no directional bias, as the technical situation seemed very confusing and uncertain, although I saw a possibility of a rise from 0.6750 as a bullish “up and under” pattern seemed to be in place. The price did rise strongly from there but then fell very sharply, and at present both the NZD and AUD are falling very strongly. Here, at the time of writing, we are seeing a bearish break below 0.6750, which makes me take a bearish bias on this pair today. There is nothing important due today concerning either the NZD or the USD. 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.