Technical Analysis Free Forex Signals AUD/USD Forex Signal - 26 February 2018 AUD/USD Forex Signal - 26 February 2018 Monday, 26 February 2018 12:55 Share 0 Tweet 0 Pin it 0 +1 Last Thursday’s signals were not triggered, as there was no bearish price action at 0.7830. Today’s AUD/USD Signals Risk 0.50%. Trades must be entered between 8am New York time and 5pm Tokyo time, over the next 24-hour period only. Long Trade Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7856. 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 0.7935. 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. AUD/USD Analysis Last Thursday I identified a very bullish “U” formation which was pushing the price up, and I saw the short-term opportunity here as likely to be on the long side. This turned out to be correct, with the price breaking up and now printing a higher support level at 0.7856. However, the price seems to have run into some minor resistance now just below 0.7900. The short-term outlook is unclear, and I have no directional bias. There is nothing important due today concerning either the AUD or the USD. 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.