NZD/USD Forex Signal | DailyForex


Last Thursday’s signals were not triggered, as none of the specified levels were reached during the session.

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 0.7053.

  • Put 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 Trade

  • Long entry following bullish price action on the H1 time frame immediately upon the next touch of 0.6957.

  • Put 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 last Thursday that I would have a bullish bias above the 0.7000 after New York opened. This happened, but it was not much use as the price soon fell back to lower lows. Since then, the picture has become much more bullish, with the price breaking up strongly to make a new multi-day high price. The price has really taken off and is up by more than 0.70% already since the open. The rise has been very strong but there not be a lot more room to rise as the next resistance level at close by at 0.7053.

It makes sense to be bullish on this pair today, but there is more major data concerning the Aussie due in the forthcoming Asian session which could have a knock-on effect and move the price substantially and unpredictably.

NZDUSD

There is nothing due today concerning either the NZD or the USD.



Source link

We will be happy to hear your thoughts

Leave a reply