AUD/USD Signal Update
Last Thursday’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
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7274.
Put 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.
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 2
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7234.
Put 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.
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 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.7442 and 0.7476.
Put 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.
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
This pair’s strong upwards move has continued to power upwards. The momentum is there but we are now approaching an area that has acted as strong resistance in the past and which will be very likely to at least cause a pause in any continued upwards movement. This resistant area will probably begin at around 0.7442.
A pull back to 0.7274 or lower will probably give a good opportunity to get long.
Concerning the AUD, there will be a release of NZB Confidence data at 2:30am London time. Regarding the USD, there is nothing scheduled. It is a public holiday today in the USA.