Technical Analysis Free Forex Signals AUD/USD Forex Signal - 12 June 2018 AUD/USD Forex Signal - 12 June 2018 Tuesday, 12 June 2018 12:50 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as neither of the key levels were ever reached. Today’s AUD/USD Signals Risk 0.50%. Trades may only be entered between 8am New York time and 5pm Tokyo time, during 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 0.7559. 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 0.7641. 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 I saw the price moving sideways over the next 24 hours and I didn’t see any clear opportunities. This was a sufficiently accurate analysis of conditions, as the support at 0.7604 broke down and was invalidated. The long-term charts suggest that the price has made what could be a long-term bottom at about 0.7500 in a U-shape, which suggests higher prices. The price is currently slowly moving up over the medium term. It is struggling to rise a little but continuing to make higher lows even when it cannot make higher highs. The Australian Dollar is starting to look like the strongest currency against the U.S. Dollar, so longs here will probably become more interesting if the U.S. Dollar turns bearish. I have no short-term directional bias today, but I would be more comfortable taking a long trade from a bounce at 0.7559 than a short trade from 0.7641. Regarding the USD, there will be a release of CPI data at 1:30pm London time. Concerning the AUD, the Governor of the RBA will be giving a minor speech at 3am. 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.