AUD/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at 0.7576.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken between 8am New York time and 5pm Tokyo time, over the next 24-hours period only.
Short Trades
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7605, 0.7620 or 0.7654.
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 0.7567 or 0.7530.
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
I wrote yesterday that this pair was starting to look more bullish. As a confirmation of this, the price has broken up and make a new high price that we have not seen for a couple of weeks now. Everything will now depend upon the forthcoming FOMC release. It looks like we will get a strong move up if the release is more dovish than expected on monetary policy from the Federal Reserve.
Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time, followed by all the FOMC releases at 7pm and the usual press conference. Concerning the AUD, the Governor of the Reserve Bank of Australia will be testifying before Parliament at 1am.