AUD/USD Signal Update
Yesterday’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 time and 5pm Tokyo time, over the next 24-hours period.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7583.
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 run.
Long Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7493.
Place 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
Recent price action has confirmed a new, closer key resistance level at 0.7583. This is suggestive of a further downwards move, which is what we have been getting over the past few hours as at the time of writing.
It looks as if we will see 0.7500 over the next few days and the big question is whether that level is going to interest bargain-hunters to start buying the AUD, producing another upwards thrust.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.