AUD/USD Forex Signal - 21 September 2015

AUD/USD Signal Update

There are no outstanding signals.

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.

Long Trade 1

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7073.
  • Put 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.
  • 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 1

  • Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7283.
  • 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 Australian Dollar has over the course of the past couple of weeks gone from being one of the weakest to one of the strongest currencies – but this is only over a short-term period. Its rise continued as it became clearer and clearer that the Fed would not be raising the U.S. interest rate, although it fell off just below a key resistance level last week.

While it is clear there is some kind of short-term upwards trend, it is impossible to draw a good supportive trend line to trade off. Therefore the most attractive options would appear to be long or short equally off the two nearby support and resistance levels as shown in the chart below.
AUD/USD Signal

There is nothing due today regarding either the AUD or the USD.

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.