Today’s AUD/USD Signals

27 June 2017, 10:58
Tamas Molnar
0
18

Today’s AUD/USD Signals

Risk 0.75%.

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

Short Trade 1 

  • Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7625.
  • 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 ride.

Long Trades

  • Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7577 or 0.7562.
  • 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 ride.

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, signals

AUD/USD Analysis

The price has found new support over the short-term on its drive back up to the major long-term resistance at 0.7625. It is now rejecting a confluence of two resistant trend lines a little way below the 0.7625 level. There is still bullish momentum, but a bearish turn would not be a surprise. The most attractive scenario would be another push up to 0.7625 with a strong rejection of both that level and both of the trend lines, producing an interesting low risk, high reward short trade entry.



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