AUD/USD Forex Signal – 12 June 2019



Fibo Quantum Scalper

AUDUSD analysis: 0.6940 still held by bulls

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 taken from 8am New York time Wednesday until 5pm Tokyo time Thursday.

Long Trades

  • Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.6940, 0.6904 or 0.6901.

  • 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 run.

Short Trade

  • Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7047.

  • 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 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.

Great trade opportunities are waiting. Don’t miss it!

TRADE NOW

AUD/USD Analysis

I wrote yesterday that it may be that the price would bounce at the lower support level of 0.6940, but overall the price looked very choppy and indecisive, so I made no directional call on this currency pair yesterday.

This was a good call as very little has happened here, within a generally quiet Forex market. The support at 0.6940 is making its presence felt gently. The lack of movement is probably a natural consolidation ahead of major data releases for both sides of this currency pair which we will get over the next 24 hours.

Due to the uncertainty of these releases, I do not have any directional forecast, but I note that the price would seem to be supported between 0.6900 and 0.6940 so I see a bullish reversal somewhere down here as the most probable directional outcome.AUDUSDRegarding the USD, there will be a release of CPI (inflation) data at 1:30pm London time. Concerning the AUD, there will be releases of Unemployment Rate and Employment Change data at 2:30am.






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