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.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6906.
Place 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.
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 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7059.
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.
AUD/USD Analysis
Nothing important has happened over the past 24 hours, with the price still being caught between the horizontal resistance level overhead at around 0.7050 and the double bottom below at around 0.6940. The key levels are in fact beyond those highs and lows by a few pips, as marked in the chart below.
There is nothing important due today regarding the AUD. Concerning the USD, there will be a release of ADP Non-Farm Employment Change data at 1:15pm London time. At 8pm, the Chair of the Federal Reserve will be speaking.