Yesterday’s signals were not triggered as none of the key levels were reached during the session.
Today’s AUD/USD Signals
Risk 0.50%.
Trades may only be taken between 8am New York time and 5pm Tokyo time, during the next 24-hour period.
Short Trades
- Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7466 or 0.7506.
- 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 0.7331.
- 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.
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
There is no change to the technical picture: all trend lines and support and resistance levels are continuing to hold. It “feels” as if the slow upwards grind could break down below the supportive trend line in a sudden way. There is no news due today concerning either side of this pair, so the price may continue to move quietly and uneventfully.
There is nothing due today concerning either the AUD or the USD.