EURUSD Price Action: Fakey with Pin Trade Setup, June 30, 2013

 

 The EURUSD has given a trend continuation Fakey Setup after price failed in its attempt to rotate higher following the inside bar trade setup from Thursday's close. The failed bulling retracement has lead to the formation of a Fakey with Pin Trade Setup which should send prices even lower in the coming week.

EURCHF PRICE ACTION: Closing Price Reversal Setup: June 30, 2013

 

 On June 26th, I discussed the Counter Trend Fakey Setup on the pair which came off quite well, but has now failed to close above the 21ema dynamic resistance, facing a very significant selloff in its attempt, leading to the formation of  a closing price Reversal Setup. This is a bearish signal and could send prices lower.

USDCAD Price Action: Pin Bar Trade Setup. June 27, 2013.

 

USDCAD has been in very bullish mood lately, even breaking though it recent highs. However, the past 4 trading days has seen the pair offset some of its excess bullish pressure, rotating back into its previously broken resistance which now acts as support. A Pin bar forms on a failed attempt to break back into the previous resistance but is rejected. This new Support should propel prices further high in the coming days.

EURCHF PRICE ACTION: Counter Trend Fakey Setup: June 26, 2013

 

 The EURCHF closed the day higher after the fakey setup from the previous day's trading session. expectations are for price to aim at the resistance zone as indicated on the chart. An ideal entry could be made on the intra-day time frame following a valid retracement and price action setup to go with the bulls.

AUDUSD Price Action: Counter Trend Fakey Setup: June 26, 2013

 

The Aussie seem to have hit a significant support and as a result aims to take a breather from the very dominant bearish trend. The Fakey Setup on the daily time-frame at-least signals for sellers to step out and wait for another entry, possibly as the market rotates back into resistance. Though this is a counter trend setup, it looks good enough to interest buyers.

EURUSD Price Action: Closing Price Reversal Trade Setup, June 25, 2013

 

 The Euro has closed as a closing Price Reversal Setup. Price had continued to sell off in early trading only to rebound and close just above the open of the previous candle leading to the formation of the Trade Setup. Expectation are for price to continue north targeting resistance as shown above.

USDJPY Price Action: Inside Bar Trade Setup. June 23, 2013

An Inside Bar Price Action Trade Setup was Spotted on the USDJPY at the close of Trading on Friday June 21, 2013. This Trade Setup occurs close to Resistance but going by the recent trend on the pair (bullish) Price should aim to reach resistance at about 98.80. 

GBPUSD Price Action: GBPUSD breaks support as Pin bar Trade Setup fails. June 23, 2013.

 

 A Pin Bar Trade Setup on the GBPUSD last week Thursday (June 20, 2013) has failed since price broke the low of the Pin Bar by the end of trading on Friday June 21, 2013. This leaves room for more bearishness and price could target 1.5200 if this momentum is sustained. Our entry will be based on intra-day price Action Setups.

USDCHF Price Action: Pin Bar Trade Setup.June 20, 2013.

 

This looks like a straight forward trade setup on the pair as priced was rejected at about the 21ema forming a Pin Bar Trade setup. Expectations are for price to continue in its more dominant bearish trend. Entries would be sort at about the 50% retracement zone.

AUDUSD Price Action: Break of Support, June 19, 2013

 

 AUDUSD was faced with massive selloff following the bullish tone of the FOMC statement. The intensity of the move saw it break through support easily, which should open the doors for further bearishness. A minor rotation back into new resistance could ensure from where intra day sell bearish setups should be sort.

GBPUSD Price Action: GBPUSD frets around Support Zone, June 19, 2013.

 

On June 11, 2013, I drew our attention to the break of an inside bar trade setup on the Cable and price had been on a buoyant mood until yesterday when it lost ground, dropping again into the zone from where the previous inside bar formed. Expectations are for a bounce to occur at about this Support Zone, however, a break would change the entire complexion of the pair.

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USDJPY Price Action: Inside Bar Trade Setup. June 17, 2013

 

USDJPY is on a strong bearish run which still looks like continuing. Today's Price Action gave out an Inside Bar Trade Setup. The Trade Room has made a pending sell order just above the inside bar with targets towards support at about 93.00. The Inside bar in a confirmed down trend as we have here is usually a trend continuation pattern.

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EURUSD Price Action: Inside Bar Trade Setup. Against Market Open June 16, 2013

 

 The last time I ran a commentary on the EURUSD was May 30. My focus was on its bullish breakout. Price has continued to aim higher with no signs of slowing down. However, Friday's close did send a signal of a possible rotation back into near Support at about 1.3250, after the day ended as an Inside Pin Bar Price Action Trade Setup. That Support zone should also interest buyers as the bullish strength on this pair lacks any real signs of ending at the moment.

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AUDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Aussie has a very similar setup to the Kiwi, ending the day with a Closing Price Reversal Trade Setup but not without picking the Trade Rooms Sell Limit order at 0.9636, a clear 68pips above the current price. The entry was quite precise and the Trade room projects a take profit of about 140pips, about 70pips lower from its current price. The pair also seems like shaking off it very recent bearish tone, therefore the support zone as indicated above should interest buyers.

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NZDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Kiwi shot a bit higher than my anticipated entry region, check June 12, 2013. However, it still had a significant price rejection at about that zone, filling our sell limit order and closing the day with a significant price action bearish setup. The potential reward on this trade was eventually cut down from a previous projection of about 200pips to just about 70pips. Hopefully, price will attempt to reach support at about 0.7990 and trigger our take profit. Buyers are expected to kick in at about that point as the pair finally seems to be shaking off its bearish nature.

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USDJPY Price Action: Counter Trend Pin Bar. June 13, 2013

 

 The pair has continued to fall freely from its recent highs, breaking and closing below support at about 96.06. Though price retraced forming a pin bar at the close of trading today, the bearish bias on the pair remains. Short entries on the intraday time frame could be sort at about the new resistance.

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NZDUSD Price Action: Inside Bar Trade Setup. June 12, 2013

 

The bears on NZDUSD has been showing signs of slowing down  in recent times, but its always adviseable to go with the dominant trend, in this case, bearish. The day closed with no significant moves as the entire trading was sequisted by the previous day's, leading to the formation of an Inside Bar trade setup. Price also now trades  around key resistance and there is great possibilty that price would be rejected at about 0.8070 region, which should lead to the formation of a fakey setup. The trade room already has its pending sell order in place. However, this scenario would be completely changed if price were able to close above this key resistance zone.

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GBPUSD Price Action: Break of Inside Bar trade setup. June 11, 2013.

 

There has been a breakout on the GBPUSD as the dollar continues to be faced with immense selling pressure against the Pound and Euro. The break of the inside Bar Trade Setup from the previous day is further indication that price could aim to reach the next resistance as indicated above.

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USDCHF Price Action: Fakey with Pin Price Action Trade Setup.June 11, 2013.

 

Its been a few days since I last posted any updates. No thanks to the very poor network situation I have been faced with for about a week now. It does seem everything is back to normal, but I must apologise to my numerous followers who kept checking in vain for new updates.

The USDCHF has dropped significantly from the Pin bar Trade Setup discussed on June 2, 2013. It falls even further from the fakey with Pin trade Setup from the close of trade yesterday. Price at this point is at profit taking zone however, we still could get a break of the support just below.

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USDCAD Price Action: Fakey With Pin Trade Setup, pulls off. June 6, 2013.

 

 The Fakey with Pin Bar Trade Setup discussed yesterday on the USDCAD has pulled off, taking out the projected TP of the Trade Room. The selloff also managed to close beyond the Support which leaves room for further bearishness. Price may now target the next support as shown above.

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USDCAD Price Action: Fakey With Pin Trade Setup, June 5, 2013.

 

 USDCAD made a futile attempt at closing above the previous days inside bar price Action Setup. A Fakey with Pin Price Action Setup ensures which could send prices lower into support as shown above. Price  Action buy setups would be anticipated at that point however, a break would send prices lower.

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NZDUSD Price Action: Outside Bar Trade Setup pulls lower and setup up an Inside Bar. June 4, 2013

 

 I decided to do a follow up on the trade commentary from yesterday, to show how the Trade room got filled in on the Outside Bar Trade Setup. The entry was eventually made at about the Key Support Zone with stops below recent lows, target will be towards the zone marked as the key resistance zone.

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NZDUSD Price Action: Outside Bar Trade Setup. June 3, 2013

 

 In my last commentary on the Kiwi, I discussed the potential bullishness of the pair. Though price eventually pierced Support, it quickly was rejected in today's trading, leaving an Outside Bar Trade Setup in its wake. With this scenario, the pair now looks set to target higher prices in the coming days. though minor retracements into or just before Key Support is expected.

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AUDUSD Price Action: Hits Key Support. Against Market Open, June 2, 2013.

 

On Wednesday we had a counter trend Pin Bar on the Aussie which is yet to pull off Significantly. Though the trend is bearish, there are indications that this trend is coming to an end as Price has approached a key Weekly Support. However, Price Action Sell entries would be sort on rotation back into Resistance as shown above.

My Recommendation: Close all previous sell entries.

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GBPUSD Price Action: Pin Bar Price Action Trade Setup. Against Market Open, June 2, 2013.

 

 The Cable has positioned itself for further bullishness as Price Closed as a Pin Bar off New Support. Expectations are for price to target higher prices pending its ability to break above near resistance as shown above.

My Recommendations: buy pair on a failed attempt to break or approach New Support.

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USDCHF Price Action: Pin Bar Price Action Trade Setup. Against Market Open, June 2, 2013.

 

 USDCHF on Thursday broke below Support subsequently, this broken support acted to resist an attempt by price to break back above therefore leading to the formation of a Pin Bar at the close of Trading on Triday and the region now considered as the new resistance. Expectation withing the week is for price to continue lower with supports at about 0.9327 region.

My Recommendations: Sell pair if price makes another failed attempt to break above New resistance.

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