AUD/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were ever reached.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time, during 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 0.7500 or 0.7524.
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 0.7443 or 0.7420.
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 has been the biggest mover in the direction of a bullish USD over the last 24 hours or so, and at the time of writing, the price has flipped the psychologically very significant 0.7500 level from support to resistance which is a very bearish sign. If the USD rally continues then this pair is one to watch.
There is nothing due today regarding the AUD. Concerning the USD, there will be a release of Building Permits, CPI, Unemployment Claims and Philly Fed Manufacturing Index data at 1:30pm London time, followed by the Chair of the Federal Reserve testifying before Congress about the economic outlook later at 3pm.