AUD/USD Signal Update
Last Thursday’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 entry into the zone between 0.7260 and 0.7235.
* 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 touch of 0.7442.
* 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 is a great pair to be focusing on right now, as it has shown very strong short-term bullish momentum, has just made a new 6 month high, and is easily higher than its prices both 3 and 6 months ago. Overall, this is a great candidate for a long trade and especially for long-term holding as we could be at the start of a bullish trend that will last for weeks or even months as we have a fairly strong bullish breakout so far. It is a good idea to look to get long on pullbacks especially if the price should get back to 0.7260 and then start to turn bullish again.
There is nothing due today concerning either the AUD or the USD.