AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time, over the next 24 hours only.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7676.
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 Trades
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7594 or 0.7576.
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
The slow but steady bullish trend continues, with the pair currently making another strong or at least fast upwards push since London opened this morning. However, we may be seeing a triple top forming close to the key resistance level of 0.7676, but be careful taking any shorts there. Long trades remain the safer approach for the time being.
There is nothing of high importance due today concerning the USD. Regarding the AUD, there will be a release of Manufacturing Production data at 9:30am London time.