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Our free forex signals service trade today is a buy order on the NZD/USD pair.

The NZD/USD pair plunged in the short term but now it has found temporary support and is fighting hard to rebound. Technically, the Dollar Index is under pressure after failing to take out a dynamic resistance. It remains to see what will really happen as the fundamentals will drive the markets today.

The US reported mixed economic figures during the week. Technically, after its amazing sell-off, we cannot exclude a temporary decline. Unfortunately, the Dollar Index continues to move sideways, only a clear direction could help us to identify great USD trading positions.

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US Non-Farm Employment Change – 426K Expected

The greenback needs strong support from the US economy to be able to dominate the currency market. Today, the US is to release its NFP, a high-impact indicator, which is expected around 426K in December versus 201K in November. In addition, the Unemployment Rate is expected to drop to 4.1%, while the Average Hourly Earnings may report a 0.4% growth.

From the technical point of view, the NZD/USD pair has found support on the 0.6736 and now it tries to recover. Personally, I’ve drawn an ascending pitchfork hoping that I’ll catch a swing higher. As long as it stays above the ascending pitchfork’s lower median line (LML), the price could jump higher. 

Free forex signals – BUY NZD/USD at 0.6772

free forex signals

Free forex signals entry price and takes profit

Instrument: NZD/USD

Order Type: BUY STOP

Entry price: 0.6772

Stop Loss: 0.6740

TP1: 0.6818

My Risk: 1%

Risk / Reward Ratio: 1:1.4

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