AUD/USD Signal Update
Yesterday’s signals were not triggered as the price never reached 0.7780.
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.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7805.
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 run.
Long Trade 1
Long entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7550.
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.
AUD/USD Analysis
There is a lot of weakness right now in the USD, but the AUD has also been weak. For this reason it is not a very attractive pair to trade right now, but there is still a long bias. At the time of writing, it seems that we are breaking up past the bearish trend line that had been containing the price for a while. However, there is a key resistance level at 0.7805 that might provide a good shorting opportunity if the AUD remains weak and the USD bounces back from a sentiment later that might arise feeling it to be oversold.
There are no high-impact events scheduled today for the AUD. Regarding the USD, there will be CPI and Unemployment Claims data at 1:30pm London time followed by the Philly Fed Manufacturing Index later at 3pm.