AUD/USD Signal Update
Last Thursday’s signals were not triggered as there was no bullish price action at either 0.7443 or 0.7420 during that 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 Trades
- Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7374 or 0.7420.
- 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 Trade 1
- Long entry following some bullish price action on the H1 time frame immediately upon the next touch of0.7309.
- 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 was falling very strongly at the end of last week, along with the USD/JPY currency pair, but seems to have found support and turned around with some bullish conviction from an area close to 0.7300. The overall picture is bearish so it would not be surprising to see it turn around again. To be on the safe side, it would be worth waiting for a lower high after any apparent turn as the buying has been quite strong.
There is nothing due today regarding either the AUD or the USD.