Technical Analysis Free Forex Signals AUD/USD Forex Signal - 28 February 2018 AUD/USD Forex Signal - 28 February 2018 Wednesday, 28 February 2018 15:27 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bullish price action at 0.7811. Today’s AUD/USD Signals Risk 0.50%. Trades may only be entered between 8am New York time and 5pm Tokyo time, over the next 24-hour period. Long Trade Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7750. 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 Trades Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7812 or 0.7869. 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 Yesterday I again saw the short-term outlook as unclear, and I had no directional bias. I feel the same way today, although the picture is looking more bearish still with three resistant trend lines and new lower resistance forming again at 0.7812 suppressing the price. Nevertheless, there is reasonably strong support below at 0.7750 and no long-term trend. Regarding the USD, there will be a release of Preliminary GDP data at 1:30pm London time, followed by Crude Oil Inventories at 3:30pm. Concerning the AUD, there will be a release of Private Capital Expenditure data at 12:30am. 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.