Technical Analysis Free Forex Signals AUD/USD Forex Signal - 14 November 2017 AUD/USD Forex Signal - 14 November 2017 Tuesday, 14 November 2017 10:54 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as the bullish price action took place above 0.7629. Today’s AUD/USD Signals Risk 0.75%. Trades may only be entered from 8am New York time to 5pm Tokyo time, over the next 24-hour period. Short Trades Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7635 or 0.7696. 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. Long Trade 1 Go long following some bullish price action on the H1 time frame immediately upon the next entry into the zone between 0.7577 and 0.7561. 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. 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 continued to fall, and it has broken the former strong support level at 0.7629. New resistance has been established, and survives, near to that level at 0.7635. The U.S. Dollar is showing some strength and the Australian Dollar is relatively weak, and this suggests that the price will continue to fall over the short term at least. The next supportive area should begin at 0.7577, but the round number at 0.7600 may provide a bottom instead before the price can get there. There is no long-term trend in this pair, so strong reversals at key levels should be interesting in either direction. There is nothing important due today concerning the AUD. Regarding the USD, there will be a release of PPI data at 1:30pm London time. Currency Pairs AUD/USD Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.