Technical Analysis Free Forex Signals AUD/USD Forex Signal AUD/USD Forex Signal Wednesday, 30 January 2019 12:28 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as there was no bearish price action at 0.7175. Today’s AUD/USD Signals Risk 0.75%. Trades must be entered between 8am New York time and 5pm Tokyo time today only. Long Trades Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7175 or 0.7116. 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 Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7247 or 0.7275. 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 I thought the level at 0.7175 was probably going to be the pivotal level for today, although I had seen a fall from there as more likely than the break above which we eventually got. It was a correct identification of the major pivotal level. The picture is more bullish now that the price is above 0.7175 but the upwards movement currently seems to be stalling at the previous key swing high at about 0.7200. It is quite likely that the price will consolidate here until the FOMC release due later. If that release produces a dovish impact, we could see a significant bullish movement above 0.7200 so I would take a bullish bias in that scenario once the price traded above 0.7200 for a couple of hours.There is nothing of high importance due today regarding the AUD. Concerning the USD, there will be a release of the FOMC Statement and Federal Funds Rate at 7pm London time, followed by the FOMC Press Conference half an hour later. 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.