AUD/USD Signal Update
Last Thursday’s signals expired without being triggered as there was no bullish price action at 0.7915.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am 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 the bullish trend line currently at around 0.7828.
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.
Long Trade 2
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7803.
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 bearish price action on the H1 time frame immediately upon the next reversal off the short-term bearish trend line currently sitting at around 0.7932.
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.
Short Trade 2
Short entry following bearish price action on the H1 time frame immediately upon the next entry into the zone between 0.8027 and 0.8073.
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 ride.
AUD/USD Analysis
This pair was ran out of bullish steam and is now caught in a triangular consolidation. A break up above the short trend line above might also be the fuel for another drive up to the strong resistance above 0.8000.
There are no high-impact events scheduled today concerning either the AUD or the USD.