NZD/USD Forex Signal - 12 September 2018

DailyForex.com Team

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

About the Author
DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.
Currency Pairs:
Comments

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments
Add Comment

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.