AUD/USD Signal Update
Last Thursday’s signals were not triggered as there was no bullish price action when the price reached 0.7474.
Today’s AUD/USD Signals
Risk 0.50%
Trades may only be entered between 8am New York time and 5pm Tokyo time, during the next 24-hours period.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the first touch of 0.7496.
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 Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the first touch of 0.7431.
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
We are seeing a somewhat more bearish picture, with the lower highs starting to dominate over the higher lows, but we are still within a period of consolidation, although the price moves quite smoothly so it is relatively tradable. The price is essentially bounded by 0.7500 and 0.7400.
There is nothing due today regarding either the AUD or the USD.