Search

NZD/USD Forex Signal

Last Thursday’s signals were not triggered, as there was no bearish price action when the price reached 0.7381.

Today’s NZD/USD Signals

Risk 0.50%

Trades may only be taken between 8am New York time and 5pm Tokyo time, over the next 24-hour period.

Short Trades

  • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7364 or 0.7381.

  • Place 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 Trade

  • Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7214.

  • Place 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

I had a slightly bearish bias last Thursday, which turned out to be a good approach as the price fell. The technical picture is more bearish now, as we have finally decisively broken and invalidated a long-term supportive trend line. There are no true obstacles remaining which look likely to prevent an eventual fall all the way down to 0.7214. However, it is worth noting that although it makes sense to take at least a slightly bearish bias, the New Zealand Dollar has held up relatively well against the U.S. Dollar compared to other major currencies, such as most importantly the Australian Dollar.NZDUSD

There is nothing important due today regarding the NZD. Concerning the USD, there will be a release of ISM Non-Manufacturing PMI data at 3pm London time.

Let's block ads!(Why?)

Read Again NZD/USD Forex Signal : http://ift.tt/2EjMRy8

Let's block ads! (Why?)



Bagikan Berita Ini

0 Response to "NZD/USD Forex Signal"

Post a Comment

Powered by Blogger.