AUD/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at the bearish trend line when it was hit a few hours ago.
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 first test of the broken bearish trend line currently at around 0.7906.
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 2
Long entry following some bullish price action on the H1 time frame immediately upon the next retest of the bullish trend line currently at around 0.7838.
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 3
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7805.
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 bearish price action on the H1 time frame immediately upon the next entry into the zone between 0.8027 and 0.8073.
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 run.
AUD/USD Analysis
We have had a move up during the Asian session and a clear break above the bearish upper triangle trend line, suggesting a bullish move up to the 0.8000 area. However we are about to get the release of the Australian Annual Budget which could cause a surprise move in any direction.
At 10:30am today London time there will be a release of the Australian Annual Budget.