AUD/USD Forex Signal - 29 June 2015

AUD/USD Signal Update

Last Thursday’s signals triggered a short trade off the bearish trend line at around 0.7750, giving an excellent and very profitable win.

Today’s AUD/USD Signals

Risk 0.75%

Trades may only be taken between 8am 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 next touch of the broken bullish trend line currently located at around 0.7700.

  • 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 next touch of the bearish trend line currently located at around 0.7730.

  • 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.

 

Long Trade 1

  • Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7550.

  • Place 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

There was a fairly strong bearish break down from the consolidating triangle which was the dominant feature last week. The key level at 0.7663 has been wiped out. In focus now are the trend lines, especially the confluence with the round number at 0.7700, and probable support below at 0.7550.

AUDUSD Forex Signal

There are no high-impact events scheduled today for 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.