Technical Analysis Free Forex Signals AUD/USD Forex Signal - 8 March 2018 AUD/USD Forex Signal - 8 March 2018 Thursday, 8 March 2018 12:31 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action at 0.7814. 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 0.7785. 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 Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7839 or 0.7869. 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 price was in the middle of an uncertain battle between buyers and sellers. This situation has persisted, with a bearish trend line being broken but a new slightly higher resistance level holding the price to a double top at 0.7839. The support at 0.7785 also looks healthy, so a continuing range within this area looks like a probable short-term outcome. I have no directional bias. The Australian Dollar looks a fraction stronger than the New Zealand Dollar. There is nothing 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.