AUD/USD Signal Update
Yesterday’s signals were not triggered as the price was not yet below 0.7750 at 9am London time yesterday.
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 0.7667.
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 ride.
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 ride.
AUD/USD Analysis
This pair was slow in falling, but as I forecasted, the level at 0.7805 did act as good resistance and the price has been falling from there back down to support at 0.7667. Both levels would seem to remain good for future trades after reversals.
There are no more high-impact events scheduled today for the AUD. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.