AUD/USD Signal Update
Last Thursday’s signals were not triggered and expired.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be entered from 8am to 5pm New York times today only.
Long Trade 1
* Long entry following a strong bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7200.
* 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.
Long Trade 2
* Long entry following a strong bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7154.
* 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 0.7245.
* 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.
Short Trade 3
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7271.
* 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.
Short Trade 2
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7301.
* 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
This pair has taken a bearish turn, with the AUD hit fairly hard by the far eastern stock meltdown that has occurred as we begin 2016. The USD has also strengthened. The price sliced right through lots of support which has now probably flipped to become resistance, although it is worth noting that the round number at 0.7200 has stopped the fall, at least for the time being.
We may well begin a real downwards trend over the longer term if the price cannot rise fairly soon.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time.