AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York to 5pm Tokyo times only.
Short Trades
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7515, 0.7576 or 0.7608.
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
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7420.
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
Yesterday I was looking for a rising bounce-back after the post RBA minutes fall in price. This never really happened and in fact the price has fallen further bouncing off resistance at 0.7515, invalidating a previous support level at 0.7474.
I do not see any key support before 0.7420 but I see this as level of great importance that really is the low for short-term bulls. It will be a closely watched level.
The long-term trend is slightly bullish but not qualified and it looks as if this pair is heading into choppier territory.
Concerning the AUD, there is nothing due. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.