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AUD/USD Forex signal April, 9 2015 - 9 April 2015

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

AUD/USD Signal Update

Yesterday’s signals expired without being triggered as the price never reached either 0.7520 or 0.7760.

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 test of the channel’s lower bullish trend line currently sitting at around 0.7520.

• Place the stop loss 1 pip below the local swing low.

• 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 1

• Go long following some bearish price action on the H1 time frame immediately upon the next test of the channel’s upper bearish trend line currently sitting at around 0.7755, especially if there is a simultaneous rejection of the resistant whole number at 0.7800.

• 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.

AUD/USD Analysis

The FOMC statement had little impact in general or upon this pair. We are still within the channel and the best bet continues to look like fading any channel trend line we get a reversal at.

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There are no high-impact events scheduled later today concerning the AUD. Regarding the USD, at 1:30pm London time there will be a release of US Unemployment Claims data.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

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