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 until 5pm Tokyo time.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7549.
Place the stop loss 1 pip above the local swing high.
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.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7412 or 0.7309.
Place the stop loss 1 pip above the local swing high.
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
The USD is generally weak and commodity currencies such as the AUD are generally strong. However this pair looks as if it peaked at the psychologically important big round number of 0.7500 and seems to be falling with some momentum at the time of writing. A pullback is a logical development and it should be noted the AUD has not been moving as fast as some other currencies such as the NZD and JPY.
Bullish overall with the next test probably coming at the reaction of the price to 0.7412.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.