Technical Analysis Free Forex Signals AUD/USD Forex Signal - 22 February 2018 AUD/USD Forex Signal - 22 February 2018 Thursday, 22 February 2018 12:19 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as none of the key levels were ever reached. Today’s AUD/USD Signals Risk 0.50%. Trades may only be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period. Long Trade Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7750. 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 ride. Short Trades Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7830 or 0.7877. 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 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 wrote yesterday that the picture looked bearish, and this has worked out well as the price has continued to fall. The price chart shows the short to medium term action as dominate by a bearish trend line. However, recent hours are seeing a very bullish “U” formation which is pushing the price up. I do not have a lot of confidence in the resistance level at 0.7830, and I think any short-term opportunity here is likely to be on the long side. Regarding the USD, there will be a release of Crude Oil Inventories data at 4pm London time. There is nothing due concerning the AUD. 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.