Technical Analysis Free Forex Signals AUD/USD Forex Signal - 11 July 2018 AUD/USD Forex Signal - 11 July 2018 Wednesday, 11 July 2018 12:55 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as the bullish price action at 0.7402 did not form until after the end of the Asian session. Today’s AUD/USD Signals Risk 0.50%. Trades must be entered from 8am New York time until 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 0.7362. 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. 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 0.7404 or 0.7429. 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. 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 was uncertain about the likely short-term price direction yesterday. In the end, the price fell quite heavily, and this move began even before the U.S. threat of more tariffs on Chinese imports, which could be expected to hit the Australian Dollar. The picture looks quite bearish now but note that the price has reached an area which saw consolidation the last time it was reached, so I think the movement has already played out. If the price does now continue down to 0.7362, which would be very unlikely, it should make a strong bullish bounce. There is nothing important due today regarding the AUD. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time. 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.