AUD/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were reached.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York to 5pm Tokyo times today.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the supportive zone between 0.7169 and 0.7150.
* 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.
* 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
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7293.
* 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.
* 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
It looks as though if this pair does not start rising again very soon – either today or tomorrow – it is going to fall to the round number at 0.7200 and possibly below that to hit the supportive zone beginning at 0.7168. In the meantime, we are stuck in the middle here.
There is nothing due today regarding the AUD or the USD. It is a public holiday today in the U.S.A.