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AUD/USD Forex Signal - 29 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 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

AUDUSD 42915

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.
 

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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