Technical Analysis Free Forex Signals NZD/USD Forex Signal NZD/USD Forex Signal Thursday, 10 January 2019 12:46 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action at 0.6789. Today’s NZD/USD Signals Risk 0.75%. Trades must be entered from 8am New York time until 5pm Tokyo time today only. Short Trades Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6899 or 0.6910. 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 0.6708 or 0.6677. 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. 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 relatively strong bullishness in the NZD at present, so I would remain cautiously bullish here until the FOMC release due later which might push the price anywhere. This was a good call as the price did continue to rise to new highs during that time period. I would be bullish if the price can trade above the high at about 0.6810 later. Overall, there is a positive environment for a “risky” commodity currency such as the NZD, and the price has plenty of room to rise further before the next resistance level is reached.There is nothing of high importance due today concerning the NZD. Regarding the USD, the Chair of the Federal Reserve will be giving a minor speech at 5pm 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.