AUD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of the bearish trend line currently located at around 0.7750.
Put 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.
Short Trade 2
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7860.
Put 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 2
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of the bullish trend line currently located at around 0.7688.
Put 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.
Long Trade 2
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7663.
Put 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
The inner trend line I mentioned yesterday remained intact, as this pair continues to chop and consolidate, albeit with a slightly bullish bias.
In these ranging summer conditions, the trend lines should be useful, so it looks reasonable to play reversals off either of the trend lines or either of the horizontal levels.
There are no high-impact events scheduled today for the AUD. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.