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
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Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7070 or 0.6990.
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Put the stop loss 1 pip below the local swing low.
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Move the stop loss to break even once the trade is 20 pips in profit.
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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
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Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7185.
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Put the stop loss 1 pip above the local swing high.
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Move the stop loss to break even once the trade is 20 pips in profit.
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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.
There is nothing important due today concerning the AUD. Regarding the USD, there will be the release of PPI data and crude oil
