AUD/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action when the price first reached 0.7716.
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.
Long Trade 1
• Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7682.
• Put the stop loss 1 pip below the local swing low.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 2
• Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7650.
• Put the stop loss 1 pip below the local swing low.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 3
• Go long following some bullish price action on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 0.7572.
• Put the stop loss 1 pip below the local swing low.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Remove 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 some bearish price action on the H1 time frame immediately upon the next retest of the bearish trend line currently sitting at around 0.7811.
• Put the stop loss 1 pip above the local swing high.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Remove 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 2
• Go short following some bearish price action on the H1 time frame immediately upon the next retest of the bearish trend line currently sitting at around 0.7900.
• Put the stop loss 1 pip above the local swing high.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
AUD/USD Analysis
We remain within the consolidating triangle but the picture is looking increasingly bullish following more positive economic data that was released in Australia earlier this morning. There are several horizontal levels and trend lines at which to look for entries relatively close to the price, but as the picture is congested, it is best to be careful. We may well see further consolidation.
There are no more high-impact events scheduled today concerning either the USD or the AUD.