Technical Analysis Free Forex Signals AUD/USD Forex Signal - 30 January 2018 AUD/USD Forex Signal - 30 January 2018 Tuesday, 30 January 2018 12:16 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as none of the key levels were ever reached. 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 Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.8039 or 0.8006. 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 Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.8163. 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 was wrong to hold a bullish bias yesterday as the price ended up moving down, getting very close to the support level at 0.8039 just a few hours ago. It has rebounded strongly from this area, which is a bullish sign. I am still bullish overall as there have not been any obvious major lower highs, and as the support has not even been touched, so the bullish pattern is remaining intact. This indicates a relatively strong Australian Dollar, which like the Japanese Yen, is holding up relatively well against the U.S. Dollar. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time, and President Trump will be delivering a state of the union address at 2am. Concerning the AUD, there will be a release of CPI data at 12:30am. 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.