The Week Ahead 7 - 11 Oct., 2013: EURNZD EURJPY EURUSD Price Action Trade Setups

 EURNZD gave off an inside Pin Bar after price has looked to have sliced through Support at about 1.6300. That Price Action Pattern lead the way to some pullback. But when managed to break and close above the previously broken Support to the upside yet again, the bias tilted from expecting more bears to expectation of a new round of bulls. Expectations are for price to reach towards 1.6800 Psychological resistance.

 EURJPY should continue moving southwards following the double daily Pin bars it gave off last week. Reaching support at about the 130.00 Psychological Support remains feasible.

EURUSD gave off a Pivot Top price Action Trade Setup. This setup gives us a bearish bias going into the new week however, further confirmation would be sort on the 4hr time frame before any new sell entries can be made.

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USDCAD Price Action: Closing Price Reversal gets further bullish confirmation

The beauty of trading Price Action in the way that I do is that you don't let emotions get in the way, you simply trade what the charts say and in-line with that, the USDCAD's Price Action points to the expectation of further bullishness. Traders do get a little confused and try to chase the market with every formed Price reversal-like Patterns but there is always an over-riding Price pattern. The Closing Price Reversal as indicated above is the over-riding Price Action Pattern in this chart and remains valid for more bulls unless its low is bridged.

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