NZD/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at 0.7239.
Today’s NZD/USD Signals
Risk 0.50%
Trades may only be taken from 8am New York time until 5pm Tokyo time, over the next 24 hours.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7150.Place 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 run.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7306.Place 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 run.
NZD/USD Analysis
The RBNZ cut its Base Rate from 2.25% to 2.00% as expected. This is still the highest rate of any major global currency that is commonly traded in the Forex market. What was most notable about the accompanying statement was that it was less dovish than expected, and this had the result of pushing this pair up strongly to the key resistance level at 0.7306, from where it has been falling sharply.
The chart shows a fairly simple situation of a clean downwards movement with support at 0.7105 and resistance more or less at 0.7300.
Read more - http://www.marketswing.us/forex-booster.php
Yesterday’s signals were not triggered as there was no bearish price action at 0.7239.
Today’s NZD/USD Signals
Risk 0.50%
Trades may only be taken from 8am New York time until 5pm Tokyo time, over the next 24 hours.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7150.Place 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 run.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7306.Place 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 run.
NZD/USD Analysis
The RBNZ cut its Base Rate from 2.25% to 2.00% as expected. This is still the highest rate of any major global currency that is commonly traded in the Forex market. What was most notable about the accompanying statement was that it was less dovish than expected, and this had the result of pushing this pair up strongly to the key resistance level at 0.7306, from where it has been falling sharply.
The chart shows a fairly simple situation of a clean downwards movement with support at 0.7105 and resistance more or less at 0.7300.
Read more - http://www.marketswing.us/forex-booster.php
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