Our free forex signals service today looks at the NZD/USD and we have the entry, stop and take profits levels for you.
At the beginning of the US session, the NZD/USD pair remains in positive territory as the Dollar struggles to find demand. At the time of writing, the pair had increased 0.63% during the day to 0.6991.
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US frustration with macro data appears to be affecting the US Dollar. On Thursday, the U.S. Bureau of Economic Analysis revealed that the U.S. economy grew 6.5 percent in the second quarter. This value did not meet market expectations for 8.5% growth.
In addition, the weekly unemployment benefit stood at 400,000, which is worse than analysts estimated at 380,000. Due to the weak reflection of the U.S. dollar, the U.S. dollar index (DXY) fell 0.3% during the day to 91.99. Later in the session, American Business Magazine reports great home sales in June.
Earlier this day, New Zealand data showed that the ANZ index of business confidence weakened from -0.6 in June to -38 in July, but market participants largely ignored this value. At Friday’s Asian session, Roy Morgan’s consumer confidence index awaits new momentum.
NZD/USD free forex signals
Instrument: NZD/USD
Order: BUY STOP
Entry price: 0.7045
Stop Loss: 0.6896
TP1: 0.7269
Recommended Risk: 1%
Risk / Reward Ratio: 1:1.5
Signal validity period: Good until cancelled
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Saqib Iqbal
