AUDUSD had a big bearish move on the Daily chart. The price has broken the down trending line. It has been bullish for some days on the hourly/ 4 hourly chart. The pair produced a bullish daily candle yesterday . Today’s price action has been bullish on the hourly chart. The price has broken yesterday’s higher high. This means buying the pair today as far as intra-day trading is concerned would be the best choice. Let us have a look at the hourly chart of AUDUSD

The level of 0.73823, which was yesterday’s higher high has been broken as we see on the chart. Price has been testing the level of flip over support at the time of writing this analysis. Ideally, if the price goes up to the level of 0.74140 and then it comes back to the support level of 0.73823 again. Then, buying AUDUSD after a reversal candle right on the breakout level should get us to the level of 0.74515. Let us have a look at the summary of the trade

• Entry Price: Buy Stop Order at 0.73823
• Stop loss Level: 0.73522
• Take profit Target: 0.74515

Comment below if you have questions on this trade and please let us know if you made money if this trade signal. Good luck! You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here. We hope that you enjoy our Free Forex Trading Signal today: AUDUSD Free Forex Trading Signals - 11th Jan 2017 Tip of the day: This trade setup is based on ABC trading pattern. First move with the break out has to go up to a certain level. If it goes bit less, it is all right. However, if it goes too far upwards, then the set up is not valid anymore. Today’s highest level to go for the price is 0.74140. If price keeps going up and crosses 0.74140 level, then waiting for the price to come back at the break out level to take long entry, would be a waste of time.