Technical Analysis Free Forex Signals NZD/USD Forex Signal NZD/USD Forex Signal Tuesday, 20 November 2018 12:46 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered as neither of the key levels were ever reached. Today’s NZD/USD Signals Risk 0.75%. Trades may only be entered between 8am New York time and 5pm Tokyo time, during the next 24-hour period. Short Trade Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6888. Place 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 Long entry following bullish price action on the H1 time frame immediately upon the next touch of 0.6765. Place 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 as long as the area around 0.6837 held, it would make sense not to have a bearish bias on this pair, as there were signs of the bullish USD trend ending and the NZD and AUD remaining well-positioned to rise against the USD. This area did not hold, and although the price has risen again after falling, it was a good call that kept us out of a situation that was less bullish than it needed to be. The situation now suggests consolidation and unpredictability as the price is far from any key levels, and the action suggests a double top may be forming close to 0.6888. I have no directional bias 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.