AUD/USD Signal Update
Last Thursday’s signals were not triggered as none of the key levels were reached.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York and 5pm Tokyo times during the next 24 hours.
Short Trades
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7515 or 0.7576.
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 0.7420.
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
Although the USD has been quite strong lately, we are seeing the AUD increase quite steadily against the USD during recent hours after finding some support at around 0.7450.
The price is now approaching the psychologically important 0.7500 level, and we can expect resistance by 0.7515.
This pair is essentially quite trendless over the long-term, but in the medium term it has some bullishness.
It does not look as though there will be any possible trade set ups before the FOMC Wednesday evening, with the exception of a potential short off a bearish reversal at 0.7515.
There is nothing due today concerning either the AUD or the USD.