AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York and 5pm Tokyo times.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7723.
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 Trades
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7576 or 0.7522.
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
The price eventually made a new high yesterday that just about breached the previous key swing high of a few weeks ago, before falling back to a new support level at about 0.7576. This area is confluent with a trend line we can draw connecting the lows of recent days, so it seems there is going to be another thrust up now, as at the time of writing.
There are key highs around 0.7700 that will need to be fully broken if this pair is really going to take off into blue sky.
Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time. Concerning the AUD, there will be a release of Employment Change and Unemployment Rate data at 2:30am.