AUD/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am London time and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the first test of 0.7683.
Place 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.
Short Trade 2
Short entry following some bearish price action on the H1 time frame immediately upon the first test of 0.7738.
Place 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.
USD/JPY Analysis
Yesterday I identified likely support at 0.7683 and with this morning’s strong move against the USD it held as a peak almost to the pip. At the time of writing we are getting a move down but it is not breaking hard and fast. If we get a fast move below 0.7637 it should be a good place for a medium-term short entry.
Alternatively, if the price reverses again and moves up, it becomes possible to look for a long-term short off 0.7738.
There are no high-impact events scheduled today concerning the AUD. Regarding the USD, at 12:30pm London time there will be releases of Retail Sales and Unemployment Claims data.