Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Wednesday, 26 December 2018 12:51 Share 0 Tweet 0 Pin it 0 +1 Last Monday’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 between 8am New York time and 5pm Tokyo time today. Long Trade Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.6992. 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 0.7100. 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 last Monday that the price looked very flat and as Australia was already on holiday, we were likely to see very little movement. This is exactly what happened, and the price is still extremely flat which is not surprising as Australia has not returned from holiday yet but will in a few hours. This means we are likely to see more movement here later. The longer-term momentum is definitely with the bears, however the price has approached to reach this area quite near the psychological round number of 0.7000 but it keeps acting as support, so the bulls may win out here in the end. There could be a long-term buying opportunity at or close to 0.7000. If the price could get established below 0.6992, which is a very key support level that would be a very bearish sign. This could be an interesting pair to trade later, especially during the Asian session. 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.