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.
Short Trade 1
- Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7551.
- 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.
Short Trade 2
- Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7600.
- 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
- Go long following some bullish price action on the H1 time frame immediately upon the next touch of the trend line currently sitting at around 0.7365.
- 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
As anticipated yesterday, this pair really continues to go nowhere, although it is pulling back slowly, which could give a better price for an eventual short entry. If the USD strengthens later, this could be one of the best currency pairs to be long USD in (which would be short AUD/USD).
There is nothing due today regarding the AUD. Concerning the USD, there will be a release of PPI data at 1:30pm London time followed by the Fed Chair’s testimony before Congress at 3pm, which is likely to be very important.