AUD/USD Forex Signal – Tuesday, July 11

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 entered between 8am New York time and 5pm Tokyo time, during the next 24-hour period only.

Short Trades

Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7629 or 0.7645.

Place the stop loss 1 pip above the local swing high.

Adjust the stop loss to break even once the trade is 20 pips in profit.

Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

Long Trades

Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7577 or 0.7562.

Place the stop loss 1 pip below the local swing low.

Adjust the stop loss to break even once the trade is 20 pips in profit.

Remove 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

The price has remained caught between key resistance and support levels, as well as remaining within a consolidating triangle pattern. However, we have a double bottom at about 0.7590 and the buyers are stronger than the sellers. Beyond the short-term, the key development to watch out for will be whether the price breaks above the resistant zone or below the supportive zone. Before that happens, between 0.7645 and 0.7561, the price is likely to range.