AUD/USD Signal Update
Last Thursday’s signals were not triggered as the price has remained within the channel.
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
Long entry 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.
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
Short entry 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 0.7750.
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
Short entry following some bearish price action on the H1 time frame immediately upon the next test of 0.7800.
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
There has been little change in this pair with the AUD holding up well against the strengthening USD, although it did fall sharply overnight to local support at 0.7580, from which it now seems to be revering.
There are no obvious trades before either trend line of the channel the price is in.
There are no high-impact events scheduled later today concerning either the AUD or the USD.