NZD/USD Forex Signal - 12 September 2018

Today’s NZD/USD Signals

Risk 0.50%.

Trades may only be entered from 8am New York time until 5pm Tokyo time, over the next 24-hour period.

Short Trades

  • Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6565 or 0.6610.

  • Put 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 Trades

  • Long entry following bullish price action on the H1 time frame immediately upon the next touch of 0.6450 or 0.6400.

  • Put 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

 It is clear on the daily chart it is clear how strong the downward trend is in this pair. The New Zealand dollar is a risk currency while markets seek now more safety in safe haven currencies like the US, especially since the outbreak of the US-China trade war. The move below the 0.6500 support level. Lowest since January 2016, will increase the pair's downward pressure. I still prefer to sell the pair at any bullish bounce.

NZDUSD

There is nothing important due today concerning the NZD. Regarding the USD, there will be the release of PPI data and crude oil inventories

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