AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York and 5pm Tokyo times today.
Long Trade 1
* Go long 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.
* 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.
* 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
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7293.
* 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.
* 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
As the USD fell overnight, its strongest fall was against the AUD, which continues to have a bullish impulse over recent days ever since it broke up past its long-term bearish trend line, which can still be seen in the chart below.
The price did not quite make it to the anticipated resistance at 0.7293 which maybe is not surprising as there are at least two recent daily highs located between there and 0.7268.
Should the USD weaken, this is probably the best pair to exploit that.
Regarding the AUD, there will be a release of Private Capital Expenditure data at 12:05am London time. Concerning the USD, there will a release of Core Durable Goods Orders and Unemployment Claims data at 1:30pm.