AUD/USD Signal Update
Last Thursday’s signals were not triggered as none of the key levels were hit during that session.
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 period only.
Short Trades
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7692 or 0.7723.
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 0.7604, 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
This pair is again within a long-term bullish trend, and at the time of writing is very close to a key support level which is confluent with the round number of 0.7600.
Although the outlook is bullish, I see it as muted as there has been plenty of selling every time the price tries to get much higher than its current price. Still, it should be best to keep a bullish bias.
There is nothing due today concerning either the AUD or the USD.