Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Tuesday, 27 November 2018 12:48 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 may only be taken 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 0.7165. 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 Trade Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7303. 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 the picture now was more bullish as the bearish price channel could be seen to have broken to the upside. I also thought that there may be minor resistance at 0.7280. I was right about 0.7280 but the bullishness faded quickly, and the price fell. This pair looks terrible to trade right now, action is a little choppy, very uncertain, and equally far from any key support or resistance levels, of which there are very few. I’d avoid trading this pair today and I have no directional bias at all. There is nothing important due today concerning the AUD. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm 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.