AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am New York time and 5pm Tokyo time.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6992.
* 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.
* 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 after bearish price action on the H1 time frame immediately upon the next entry into the zone between 0.7245 and 0.7271.
* 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.
* 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 after bearish price action on the H1 time frame immediately upon the next touch of 0.7300.
* 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.
* 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 is behaving very well technically and may be about to fall again having made another turn just half a pip or so under the key resistance area which is very strong and begins at 0.7245. A short right here looks very interesting: it is also a “triple tap” over the short term.
Regarding the USD, there will be a release of the ADP Non-Farm Employment Change at 1:15pm London time followed later by Crude Oil Inventories at 3:30pm. Concerning the AUD, there will be a release of Trade Balance data at 12:30am.