AUD/USD Forex Signal - 26 August 2015

AUD/USD Signal Update

Yesterday’s signals produced a good short trade off the reversal from the 0.7220 area. It will probably be a good idea to take further profit if the price does not break below 0.7100 over the next day.

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 entry into the zone between 0.7247 and 0.7283.

  • Place the stop loss 1 pip above the local swing high.

  • Move the stop loss to break even once the trade is 30 pips in profit.

  • Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.

 

Short Trade 2

  • Short entry following some bearish price action on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 0.7330.

  • Place the stop loss 1 pip above the local swing high.

  • Move the stop loss to break even once the trade is 30 pips in profit.

  • Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.

AUD/USD Analysis

We just nudged above the anticipated resistance at 0.7220 before falling sharply yesterday when the positive USD data was released. The USD rise was most dramatic against the Canadian and Australian dollars and there is no doubt that these are the two weakest currencies right now. This is a good long-term short-positioning pair.

We are far from key resistance levels right now, but there are signs we may be moving up now from 0.7100, and it is quite likely there will be local resistance at around 0.7175.

AUDUSD Forex signal

Concerning the AUD, there will be a release of Australian Private Capital Expenditure data at 2:30am London time. Regarding the USD, there will be a release of Core Durable Goods Orders data earlier in the day at 1:30pm.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.