Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Thursday, 27 December 2018 12:16 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as none of the key levels have yet been reached. Today’s AUD/USD Signals Risk 0.75%. Trades must be entered from 8am New York time until 5pm Tokyo time today. Long Trade Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.6992. 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 Trades Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7047 or 0.7100. 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 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. I also thought that this could be an interesting pair to trade later, especially during the Asian session. The strong move down that we saw a few days ago has reasserted itself after a bullish retracement, with the price printing an obvious lower resistance level at 0.7047 which was a bearish sign. Commodity currencies such as the Australian Dollar are vulnerable in bearish markets, which is what we have now despite yesterday’s strong recovery movement in the U.S. market. This suggests that taking a bearish bias would make sense, but I am still afraid of the long-term buying opportunity that may be seen close to 0.7000. I think the price will get lower today, but perhaps not by much. I would take a bearish bias if we got another rejection of 0.7047 or if the price can trade below 0.6992 for a couple of hours. 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.