AUD/USD Signal Update
Yesterday’s signals were not triggered and expired.
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.
Take risk off any open trades at 6pm London time.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 0.7780.
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 0.7805.
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.
Long Trade 1
Go long following some bearish price action on the H1 time frame immediately upon the next touch of 0.7550.
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.
AUD/USD Analysis
The AUD has been falling during the Asian and the London session as well up to this time of writing. It has reached local support at 0.7680 which may halt the fall. The double bottom at 0.7600’s round number confluence is likely to be more supportive but we are unlikely to get there before the FOMC releases after the London close today.
There are no high-impact events scheduled today for the AUD. Regarding the USD, there will be releases of the FOMC Statement, Economic Projections, the Federal Funds Rate and a Press Conference commencing at 7pm London time.