AUD/USD Forex Signal - 25 August 2016

AUD/USD Signal Update

Yesterday’s signals were not triggered as none of the key price levels were ever reached.

Today’s AUD/USD Signals

 

Risk 0.75%

Trades may only be entered between 8am New York time and 5pm Tokyo time only, over the following 24-hours period.

 

Short Trades

  • Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7723 or 0.7663.

  • Place 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 0.7576.

  • Place 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 market is very quiet and the price has just been consolidating for the past 3 days or so around 0.7625. There will finally be an important data release later close to the New York open so that might spark some life into the market. If that carries on into the later New York session and the Asian session this pair could give some opportunities over that time.

AUDUSD

There is nothing due today concerning the AUD. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 1:30pm London time.

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.