AUD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time only.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7738 or 0.7623.
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 ride.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7860.
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 ride.
AUD/USD Analysis
There has been no change to the technical picture, with continuing bullishness and the market seeing the Australian Dollar very bullishly, although not as bullishly as its sister currency the New Zealand Dollar.
The pair may now be due a somewhat deeper pullback but there is no technical reason to become less bearish before 0.7860
There is nothing due today regarding the AUD. Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.