AUD/USD Signal Update
Yesterday’s signals expired without being triggered.
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
Go short 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 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7550.
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
I wrote yesterday that this pair has become bogged down. It ranges and does not really go anywhere. However the USD has been generally strong and the AUD fairly weak lately so the price is falling towards very key support at 0.7550. if you look back at the chart over several weeks, it does seem like the AUD is carving out a solid bottom just above 0.7500, so I wonder if this pair is showing a long-term buying opportunity.
Regarding the AUD, there will be no more today after the Trade Balance data that was released at 2:30am London time. Concerning the USD, there will be Non-Farm Employment Change and Unemployment Change data at 1:30pm, one day earlier than usual.