AUD/USD Signal Update
Yesterday’s signals might have given a failed short trade off the former resistance at 0.7463.
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 0.7551.
- 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
- Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7600.
- 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
- Long entry following some bullish price action on the H1 time frame immediately upon the next touch of the trend line currently sitting at around 0.7375.
- 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
In the end, the pair did bounce up quite nicely from that trend line I had previously highlighted to threaten 0.7500.
There is key resistance above at around 0.7550.
There is nothing due today regarding the AUD. At 1:30pm London time there will be a release of U.S. Unemployment Claims data.