AUD/USD Signal Update
Last Thursday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time until 5pm Tokyo time.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7600.
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 run.
Long Trade 2
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7568.
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 run.
Long Trade 3
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7533.
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 run.
AUD/USD Analysis
There is crucial central bank input coming for the Australian Dollar during the forthcoming Asian session so it is going to be an important session for this pair. The Australian Dollar has been very bullish and if the RBA suggests no rate cut is in sight and economic growth is remaining healthy, we are likely to see this pair continue to rise, although there will probably be volatility during which it might be possible to get long from spikes down to 0.7600 or below albeit with a lot of risk. Of course there is FOMC coming later in the week so a more meaningful downwards move could also be a good buying opportunity if their input weakens the USD on Wednesday.
Overall the long-term picture is bullish, and suggestive of the possible beginning of a long-term bullish trend that could run for several hundred pips at least, so trend traders should be looking to get long of this pair if possible.
There is nothing due today concerning the USD. Regarding the AUD, there will be a release of the RBA’s Rate Statement and Cash Rate at 5:30am London time, as well as Trade Balance data 1 hour before that.