AUD/USD Signal Update
Last Tuesday’s signals expired without being triggered as none of the key levels have been reached.
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 0.7442.
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 0.7476.
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 a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7231.
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 price reaches 0.7300 and leave the remainder of the position to run.
AUD/USD Analysis
This pair is looking relatively bearish now as the FOMC minutes couldn’t really move the pair up much, and during the reaction after the move, it has been falling quite fast, considering the overall conditions, and is now breaking recent lows and the 0.7300 level. However there is still likely to be support below here so it is quite probable that this pair is going to chop around for a while longer. However the AUD is undoubtedly looking weak.
There is nothing due concerning the AUD. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by Existing Home Sales and the Philly Fed Manufacturing Index at 3pm.