AUD/USD Signal Update
Yesterday’s signals expired without being triggered as the price never reached either 0.7520 or 0.7760.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am London time and 5pm New York time only, or after 8am Tokyo time later.
Long Trade 1
• Go long following some bullish price action on the H1 time frame immediately upon the next test of the channel’s lower bullish trend line currently sitting at around 0.7520.
• Place 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.
Short Trade 1
• Go long following some bearish price action on the H1 time frame immediately upon the next test of the channel’s upper bearish trend line currently sitting at around 0.7755, especially if there is a simultaneous rejection of the resistant whole number at 0.7800.
• Place 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.
AUD/USD Analysis
The FOMC statement had little impact in general or upon this pair. We are still within the channel and the best bet continues to look like fading any channel trend line we get a reversal at.
There are no high-impact events scheduled later today concerning the AUD. Regarding the USD, at 1:30pm London time there will be a release of US Unemployment Claims data.