AUD/USD Signal Update
Last Thursday’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, over the next 24-hours period only.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 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 0.7616 or 0.7563.
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
It is interesting that while there has been plenty of movement in the U.S. Dollar over recent hours and days, this pair has been going sideways, although if you were to make a call from the chart one would have to say it is very slightly bullish. This indicates that the best opportunities for now are probably going to lie elsewhere between the U.S. Dollar and the haven currencies such as JPY and CHF as the world focuses upon the American presidential election this week.
There is nothing due today regarding either the AUD or the USD.