Technical Analysis Free Forex Signals AUD/USD Forex Signal - 25 January 2018 AUD/USD Forex Signal - 25 January 2018 Thursday, 25 January 2018 10:36 Share 0 Tweet 0 Pin it 0 +1 Last Tuesday’s signals produced a losing short trade following the bearish pin candle rejecting the identified resistance level at 0.8004. Today’s AUD/USD Signals Risk 0.50%. Trades may only be taken between 8am New York time and 5pm Tokyo time, during the next 24-hour period. Long Trades Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.8039. 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 0.8163. 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 This pair has risen, but it is not one of the top gainers against the USD. The price is also not making long-term high prices, there is still residual resistance above 0.8100. I had thought that the 0.8000 level would cap the price, but the price broke up and gained relatively strongly for a while, helped along by this bullish break. It now looks as if the area at about 0.8039 should become good support. I now have a slightly bullish bias, provided the price remains above 0.8039. There is nothing important due today concerning either the AUD or the USD. It is a public holiday in Australia 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.