AUD/USD Signal Update
Yesterday’s signals were not triggered as none of the levers were reached.
Today’s AUD/USD Signals
Risk 0.75%.
Trades must be taken from 8am New York time to 5pm Tokyo time, during the next 24-hours period only.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the first touch of 0.7222.
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.
Take off 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
Go long following some bullish price action on the H1 time frame immediately upon the first entry into the zone between 0.7150 and 0.7144.
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.
Take off 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
Unfortunately, the price did not quite reach 0.7222, but it was an accurate indication of resistance as the price has been falling steadily since coming very close to reaching it. There is a long-term bearish trend and in recent days the AUD was one of the more bearish currencies. However, there are a series of two recent higher lows below in previous price action before the nearest key support level at 0.7150, so a further movement down is dubious.
There is nothing due today regarding either the AUD or the USD.