By: DailyForex.com
NZD/USD Signal Update
Yesterday's signals were not triggered.
Today's NZD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time until 5pm Tokyo time today.
Long Trade 1
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Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6955 or 0.6875.
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Put the stop loss 1 pip below the local swing low.
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Adjust the stop loss to break even once the trade is 20 pips in profit.
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Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 1
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Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7026.
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Put the stop loss 1 pip above the local swing high.
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Adjust the stop loss to break even once the trade is 20 pips in profit.
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Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
NZD/USD Analysis
Things were looking very bullish a short while ago, but the price has been falling for more than 24 hours now, with the level at 0.7025 flipping from resistance to support, but then back to resistance again, which ultimately was a bearish sign. At the time of writing, it seems as if 0.6955 may be holding as support, but the level really needs to be well respected over the coming next few hours in order to justify any long trade following the New York open off this level.
There is nothing due today regarding the NZD. Concerning the USD, there will be a release of Unemployment Claims and Philly Fed Manufacturing Index data at 1:30pm London time.
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Source → NZD/USD Forex Signal
