NZDUSD Forex Signal | Technical Analysis

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NZDUSD Forex Signal

Yesterday’s Forex Signal were not triggered as there was no bearish price action at 0.6750.

Today’s NZD/USD Forex Signals

Risk 0.75%

Trades must be taken from 8am New York time until 5pm Tokyo time only.

Short Trades

Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6804 or 0.6862.

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 ride.

Long Trade 1

Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6625.

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 ride.

NZD/USD Analysis

NZDUSD Forex Signal

We have had the level at 0.6750 wipe out now. There are no attractive, reliable levels between 0.6804 and 0.6625. The chart below shows a linear regression with a slight downwards channel, and the price is currently just meandering around the centre line.

There are certainly better opportunities elsewhere, away from this pair, with the exception of a possible short at 0.6804.

NZDUSD

Concerning the NZD, the Annual Budget Release will take place at 3am London time. Earlier, regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm.

Currency PairsUSD/NZD

DISCLAIMER:

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don’t ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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