AUD/USD Forex Signal - 25 April 2017

Yesterday’s signals were not triggered as there was no bullish price action at 0.7547.

 

Today’s AUD/USD Signals

Risk 0.50%.

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

 

Short Trade 1

* Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7625.

* 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 0.7547 or 0.7505.

* 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.

 

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

 

AUD/USD Analysis

I wrote yesterday that his pair has become hard to predict and isn’t really going anywhere. This is how things continue to develop, although the consolidating triangle suggests a directional breakout is on its way soon, although not just yet.

AUDUSD

Concerning the USD, there will be a release of CB Consumer Confidence data at 3pm London time. Regarding the AUD, there will be a release of CPI data at 2:30am.

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.