AUD/USD Signal Update
Yesterday’s signals expired without being triggered as the bullish price action occurred below 0.7200.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York until 5pm Tokyo times today only.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between of 0.7170 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.
Long Trade 2
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7072.
* 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 entry into the zone between of 0.725 and 0.7280.
* 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
The Australian dollar has been getting beaten down. Earlier it looked as though things were starting to flatten out but this pair has been falling again since London opened today, but has just about reached the zone at which stronger support can be expected to kick in and halt the fall. A sustained break below 0.7150 would be an extremely bearish sign.
There is nothing due today regarding the AUD or the USD.