AUD/USD Signal Update
Yesterday’s signals were not triggered as the price never reached either 0.7900 or 0.7762.
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 0.7840.
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 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7840.
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 strongly bearish price action on the H1 time frame immediately upon the next entry into the zone from 0.7900 to 0.7940.
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
This pair continues to look bullish although it now approaches an area of strong resistance. Yesterday it flipped previous resistance at 0.7840 to support and a return to this level could be a good opportunity to look for a long trade.
Above, a strong reversal above 0.7900 could be a good area at which to enter a short, and if this could survive until a possible USD-positive FOMC tomorrow, it would be a good opportunity.
The longer-term charts look like this pair is beginning to turn seriously bullish, which is something to keep in mind.
There are no more high-impact events scheduled today concerning the AUD. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.