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 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.
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 is little else to say except that the pair has continued its strong downwards trend, as the USD regains strength and the RBA makes two actions both of which have the effect of knocking down the Australian Dollar.
Technically, the fall might well be halted soon, as we are approaching a zone that was very supportive the last time the price was where. The zone stretches from 0.7300 downwards with good support at each round and half number.
However I do not yet see an end in sight to the falling price.
There are no high-impact events due today concerning either the AUD or the USD.