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NZDUSD Price Action Analysis – 4th July 2017

NZDJPY has been very bullish on the H4 chart. The price has kept making higher highs after having pullbacks. Today’s intraday price action has been bearish. However, if we analyze the H4 chart, then today’s bearish momentum should be counted as a correction. The price is approaching to a good level of support, which has the potential to be held and to produce an H4 reversal candle. If that does happen, then buying the pair would get us some green pips. Let us have a look at the H4 chart… The chart clearly suggests that the price has been bullish and we should only look for long opportunities here. The price has been having bearish to make correction at the moment. The level of 81.850 might come into the game and play an important role here. The level seems to be a flip over support. If this level produces an H4 Engulfing candle, then buying the pair would get us green pips with excellent risk and reward ratio. Let us have a look at the summary of the trade…

• Buy Limit Order: 81.850
• Stop Loss Level:  81.200
• Take Profit: 83.000
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

Today there is a bank holiday in the US. Thus, I have chosen a pair that is not directly related to the USD. The pairs that are related to the USD might have very less liquidity today. Thus, be careful about taking entries today that are directly related to the USD.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: NZDUSD Price Action Analysis – 4th July 2017 [thrive_link color='green' link='https://www.forexstrategieswork.com/the-price-action-club/' target='_blank' size='big' align='aligncenter']Join The Price Action Club Here...[/thrive_link]