AUD/USD Forex Signal - Wednesday, April 12

Last Monday’s signals were not triggered as none of the key levels were ever reached.

Today’s AUD/USD Signals

Risk 0.75%.
Trades may only be entered between 8am New York time and5pm Tokyo time, over the next 24-hours period.

Short Trade 1

Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7539.

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

Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7452 or 0.7431.

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 Analysis

The picture still looks bearish overall, although the price of this pair has not moved much over recent hours, and the speed of the downwards movement is slowing down. Looking at the long-term picture, the price does not really have a trend but is in a medium-term bearish trend dominated by the trend line shown in the chart below.

Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time. Regarding the AUD, there will be releases of Employment Change and Unemployment Rate data at 2:30am