AUD/USD Forex Signal – Tuesday, June 13

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

Today’s AUD/USD Signals

Risk 0.50%.

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

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 0.7517 or 0.7498.
  • 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

    I was correct to foresee a further rise in the price yesterday, but the price has sold-off in recent hours, forming a double top at the recent high price. Support levels are completely intact, and the overall picture is bullish, and this will not change unless there is a sustained break below the supportive area centred on the major psychological number of 0.7500.

     

    Print Friendly, PDF & Email

    Author: Travis Esquivel

    Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

    Share This Post On

    Submit a Comment

    Your email address will not be published. Required fields are marked *