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 today only.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 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 0.7412 or 0.7309.
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
There has been no real change to the technical picture in any way. The price was looking bullish yesterday, holding up above the new support level of 0.7412, and it continues to look bullish and continues to hold up above 0.7412, although it has had a fairly quiet 24 hours overall and has not really moved very much.
This could be the first sign there will be a pullback, but I would not read much into this.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.