AUD/USD Signal Update
Yesterday’s signals expired without being triggered as there was no bearish price action at 0.7720.
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
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7707.
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
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7805.
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
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7950.
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
This pair has turned around, breaking up past the key resistance at 0.7720, and there is now a clear flip from resistance to probably likely support at prices just above the round 0.7700 level.
There is a key resistant swing high above at 0.7805 that the price will probably not break today, and from which there could be a significant fall.
There are no high-impact events scheduled today for the AUD or the USD.