AUD/USD Forex Signal - 12 September 2018

Today’s AUD/USD Signals

Risk 0.50%.

Trades may only be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period.

Long Trades

  • Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7070 or 0.6990.

  • 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 run.

Short Trades

  • Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7185.

  • 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 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

 For the third day in a row, the pair moves in a tight range between 0.7084 level, the lowest since December 2016, and 0.7128. Last Friday's session was tough on the Australian dollar, with Trump threatening to impose a new $200 billion tariff on Chinese products. The US dollar is still the strongest in this war, so we expect the pair to continue its bearish trend until signs of a near solution to the conflict emerge.

AUDUSD

There is nothing important due today concerning the AUD. Regarding the USD, there will be the release of PPI data and crude oil

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.