AUD/USD Signal Update
Last Thursday’s signals were not triggered as there was no bearish price action at 0.7658.
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 Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7658.
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
Go long 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 pair remains in a slow but steady bullish trend. However, the price struggles at around 0.7640 to hold up, so it would not be surprising if the next major short-term move we seen is back down to the supportive area just below 0.7600.
There is nothing of high importance due today concerning either the AUD or the USD.