AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York to 5pm Tokyo times only.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7723.
Put 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 run.
Long Trades
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7522 or 0.7420.
Put 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 run.
AUD/USD Analysis
I wrote yesterday that the break up above the very crucial 0.7550 resistance was a bullish event, signalling a long-term bullish trend.
This has been followed by a sharp rise in the pair over the past few hours, and the price is now very close to its highest level since April.
It is all part of the strong risk rally which is seeing stocks make new highs.
As long as this continues, it should be good news and very bullish for this pair.
The trend line I have drawn in the chart below is a rough guide only, as I cannot properly connect at least three touches.
There is nothing due today concerning either the AUD or the USD.