AUD/USD Forex Signal - 26 September 2016

AUD/USD Signal Update

Last Thursday’s signals were not triggered as none of the key levels were hit during that session.

Today’s AUD/USD Signals

Risk 0.75%

Trades must be taken from 8am New York time until 5pm Tokyo time, over the next 24-hours period only.

 

Short Trades

  • Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7692 or 0.7723.

  • Put 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.

 

Long Trades

  • Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7604, 0.7567 or 0.7530.

  • 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.

  • 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

This pair is again within a long-term bullish trend, and at the time of writing is very close to a key support level which is confluent with the round number of 0.7600.

Although the outlook is bullish, I see it as muted as there has been plenty of selling every time the price tries to get much higher than its current price. Still, it should be best to keep a bullish bias.

AUDUSD

There is nothing 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.