AUD/USD Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.7379.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be entered between 8am and 5pm New York time today only.
Short Trades
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7449 or 0.7549.
Place 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 ride.
Long Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7309.
Place 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 ride.
AUD/USD Analysis
This pair has continued to rise with another wave as there is a small risk rally in the market and the AUD, for various reasons, is considered to be strengthened somewhat by a Brexit.
However there is still strong resistance at each of the half-numbers above, and it does not look as if the price is going to get very much higher.
In any case this is an in-between currency pair, with no long-term trend.
There is nothing due concerning the AUD. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.