AUD/USD Forex Signal | DailyForex


Yesterday’s signals were not triggered, as none of the key levels were ever reached.

Today’s AUD/USD Signals

Risk 0.75%.

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

Long Trade

  • Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7165.

  • 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 Trade

  • Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7321.

  • 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

I wrote yesterday that I had a bullish bias and would persist with it if we got another higher daily close at the end of the day. This was a great call, we did get the higher daily close also and the price has continued to rise higher and higher. I will maintain a bullish bias to at least 0.7321 if we get a close at the end of today higher than yesterday. The AUD and the NZD are the most bullish currencies now and have been boosted by strong New Zealand employment data released earlier, and general U.S. Dollar weakness. The RBNZ makes its monthly report later, so watch out for volatility and possible strange price movement at that time.

AUDUSD

There is nothing important due today concerning either the AUD or the USD.



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