AUD/USD Forex Signal - 13 September 2016

AUD/USD Signal Update

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

Today’s AUD/USD Signals

Risk 0.75%

Trades may only be entered from 8am New York time until 5pm Tokyo time, during the next 24-hours period.

 

Short Trades

  • Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7576 or 0.7605.

  • 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 Trades

  • Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7493 or 0.7458.

  • 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 price reached to within a whisker yesterday of the key support level at 0.7493, where it turned around and rose about 70 pips with some good momentum before falling back close to the 0.7500 level.

We might be experiencing some really key support here. The price is again rising although at the time of writing it is early in the move. I can see the price going up from here again to challenge the resistance at 0.7576.

AUDUSD

There is no high-impact news due today concerning 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.