AUD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken from 8am New York time to 5pm Tokyo time.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7300, 0.7250 or 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 ride.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7412.
Put 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
We had a good bullish bounce right at 0.7300 yesterday. Over the course of the day, the AUD was the strongest of all major currencies.
However, although the USD has weakened somewhat, the AUD has come off the boil, and has not so far even managed to reach the next round number.
We may not get much directional movement until tomorrow’s New York session when we will begin to get some important U.S. economic data releases.
There are no high-impact events due today concerning the AUD. Regarding the USD, there will be a release of Crude Oil Inventories at 3:30pm London time