AUD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York time and 5pm Tokyo time.
Any trades open at 6:30pm should be protected.
Short Trades
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7421 or 0.7549.
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.
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 Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7309, 0.7260, 0.7230 or 0.7207.
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.
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
The AUD has become more bullish, making a double bottom here at around 0.7340 and is currently challenging the minor resistance at the round number of 0.7400. It does now look as if there is some upwards momentum.
There is a lot of big news due over the forthcoming 24 hours for both sides of this pair so what will happen next is very hard to predict. The big picture is of a pair stuck in a range with no real trend, although it is not exactly ranging conditions prevailing either.
Regarding the USD, there will be a release of PPI data at 1:30pm London time, followed later at 3:30pm by Crude Oil Inventories. At 7pm there will be the release of the Federal Funds Rate, FOMC Statement and FOMC Economic Projections, followed by the usual press conference. Concerning the AUD, there will be a release of Unemployment Rate and Employment Change data at 2:30am, followed by a speech from the Deputy Governor of the RBA at 3:30am.