NZD/USD Forex Signal

19 June 2017 9:51:46 AM

By: DailyForex.com

Last Thursday’s signals were not triggered as none of the key levels were triggered during that session.

Today’s NZD/USD Signals

Risk 0.75%

Trades must be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period only.

Long Trade 1

  • Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7153.
  • 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. 

Short Trade 1

  • Go short following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.7298 and 0.7318.
  • 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.

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

We now see this pair’s strong advice being held by resistance at about 0.7300, with a lower swing high forming. This is, provisionally, a bearish sign, but there have been no breaks of key support levels yet. Until that happens, it would be correct to call this a pause in the upwards movement. NZDUSD

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

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.

DailyForex Newsletter
0 User Reviews

Registration is required to ensure the security of our users. Login via Facebook to share your comment with your friends, or register for DailyForex to post comments quickly and safely whenever you have something to say.

Log in | Create a DailyForex.com Account Now