AUD/USD Signal Update
Yesterday’s signals were not triggered as the bearish price action took place a few pips above the anticipated resistance level of 0.7676.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York time and 5pm Tokyo time, during the next 24 hours.
Short Trades
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7723 or 0.7764.
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 ride.
Long Trades
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7594 or 0.7576.
Put 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 slow but steady bullish trend continues for another day, with greater momentum this time as the USD finally catches some all-round weakness. The anticipated resistance level at 0.7676 did provide a bump on the road, but not much more than that.
Overall the pair looks very bullish, it is in a long-term bullish trend and is making new 3 month high prices.
There is nothing of high importance due today concerning the AUD. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.