Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Tuesday, 18 September 2018 11:45 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action at 0.7181. Today’s AUD/USD Signals Risk 0.75%. Trades may only be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period. Long Trades Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7192 or 0.7129. 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 Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7231 or 0.7270. 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 I wrote yesterday that due to the notable recent weakness of the Australian Dollar, trading with a bearish bias is useful, but there was short-term bullish momentum. I was looking ideally for a bearish reversal later after the RBA’s release at either 0.7181 or 0.7231. However, neither scenario has played out, and the picture is now looking more bullish as a new key higher double bottom is printed at 0.7145. The bullish movement of recent hours may be running out of momentum now, so I do not have any directional bias and it looks impossible to forecast with any confidence. 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.