AUD/USD Signal Update
Yesterday’s signals were not triggered as the price did not reach the 0.7500 level until after the close of the Asian session.
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
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7524.
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
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7443 or 0.7420.
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
This pair has been the biggest mover in the direction of a bullish USD since the Asian session started last night, and at the time of writing, the price is breaking down below the psychologically very significant 0.7500 level. These are bearish signs although there is no obvious news to support it. The longer-term picture is starting to look more clearly bearish and this might be connected to problems Chinese manufacturing may face from a Trump presidency.
Concerning the USD, there will be a release of PPI data at 1:30pm London time, followed by Crude Oil Inventories later at 3:30pm. Regarding the AUD, there will be a release of Employment Change and Unemployment Rate data at 12:30am.