AUD/USD Signal Update
Last Thursday’s signals were not triggered and expired.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am London time and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the first test of 0.7753.
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 ride.
Short Trade 2
Short entry following some bearish price action on the H1 time frame immediately upon the first test of the bearish trend line shown on the chart below which is currently sitting at around 0.7820.
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 ride.
USD/JPY Analysis
We are within a consolidating triangle and the lower bullish trend line survived this morning when another bullish touch was made.
The next key level is the previous support that was made close the important psychological number at 0.7750: will this hold or break? If it holds, it could give a fairly risky short trade. A better short trade would set up after a pull back to the very long-term confluent bearish trend line currently at around 0.7820.
There are no high-impact events scheduled today concerning the USD, but there will be a release of National Australia Bank Business Confidence data at 00:30 London time which may affect the AUD.