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 0.7143.
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.
Long Trade 2
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7072.
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 a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7283.
Place 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.
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
This pair was the second strongest mover of all the major dollar pairs, but came off the boil last night as the USD recovered somewhat. Although the price has not quite got back to 0.7143, it might be finding support at 0.7165 which was previously minor resistance. A further move down to 0.7143 could provide an excellent opportunity to get long, especially if it happens before the FOMC Meeting Minutes are released.
There are no high-impact releases due today concerning the AUD. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by the FOMC Meeting Minutes at 7pm.