AUD/USD Signal Update
Yesterday’s signals were not triggered as although the price did reach 0.7940 there was no bearish price action at that level.
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 touch of 0.7840.
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
Short entry following strongly bearish price action on the H1 time frame immediately upon the next touch of 0.8023.
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
There are high-impact events scheduled today concerning the USD. There will be a release of Advance GDP data at 1:30pm London time, followed later at 7pm by the very important FOMC Statement and Federal Funds Rate announcement.