Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Thursday, 22 November 2018 11:58 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action at 0.7250. Today’s AUD/USD Signals Risk 0.75%. Trades may only be entered from 8am New York time to 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 0.7165. 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 Short entry 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 the picture looked more bearish, with the trend line invalidated, and the price struggling to rise above the key psychological level of 0.7250. I was looking for a short from 0.7250 which looked like solid resistance, but the level has been invalidated with the price crossing it now in both directions. The market generally is not a good market for trading at all, but here we see one of the few pairs that has a dominant technical feature – a new short to medium-term bearish channel, which suggests lower prices today. I have a weak bearish bias below 0.7250 if the price is trading below there and the action is bearish shortly after Australia opens for business. There is nothing important due today concerning either the AUD or the USD. It is a public holiday in the U.S.A. today. 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.