Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Wednesday, 28 November 2018 13:04 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as none of the key levels were ever reached. Today’s AUD/USD Signals Risk 0.75%. Trades must be entered between 8am New York time and 5pm Tokyo time, during the next 24-hour period only. Long Trade Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7165. 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 Trade Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7303. 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 this pair looked terrible to trade right now, action was a little choppy, very uncertain, and equally far from any key support or resistance levels, of which there were very few. I said I’d avoid trading this pair and I had no directional bias at all. There is little reason to change this analysis, although you could argue that there is a bearish price channel (which I have drawn in the chart below), but it looks very shaky and I have no confidence in it. It is probably best to avoid trading this pair today. Regarding the USD, there will be a release of Preliminary GDP data at 1:30pm London time. 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.