Markets Price Action, The week ahead. AUDJPY AUDUSD CADCHF GBPAUD GBPCHF GBPUSD NZDCAD NZDCHF

AUDJPY chart above shows us a likely continuation of the bullish trend that emered after price hit a double bottom at about 5 and 27th August 2013. Its always safer to go with the major trend. If we get a reasonable setup on this pair in the coming week, we would buy into the pair. The pair currently trades just above a Support.

 AUDUSD has given off a bearish break changing our bias on the pair. We had expected the pair to bull from the Previous support but it has failed to push the pair significantly higher. A corrective bullish pullback is expected still before any new bearish entries can be made.

 CADCHF is clearly a bearish market with new entries made each time it swings. The current move on this pair could yet break the recent lows.

 GBPAUD has failed to resume a new bearish trend as had been expected. But good enough, there was no Trade setup to warrant any bearish entry and with break of the previous high, the bullish trend resumes. but like before, we still shall wait for price to sell corrective into our mapped support zones.

 GBPCHF has closed with a fakey Price action trade Setup after the initial rejection of the higher prices at its key resistance zone. The trade made new bearish entries on this setup and we look to the pair falling into the first mapped support zone. New bullish entries could also be made at those points.

 GBPUSD looks to be trapped within a horizontal consolidation. sell entries will be made as it faces rejection at the resistance zone while buy entries made at the support.

 NZDCAD also looks to be trapped withing a horizontal consolidation. A buy entry could be taken if the dynamics are right.

NZDCHF is very close to the Trade Room's take profit, which also is the support zone for the bullish break. We could take a buy entry if the price action is right.

AUDJPY PRICE ACTION: Against Market Open. Closing Price Reversal Trade Setup. August 18, 2013

AUDJPY has a Closing price Reversal Trade Setup which could yet pull off early in the coming week. This setup is a bearish alert and remains valid unless we get a break of the supply zone at about 90.00. Price is expected to reach 87.00 if this setup pulls off.

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AUDJPY Price Action: Closing Price Reversal Trade Setup, August 8, 2013

 

AUDJPY has found some support after price hit the 87.15 support area. A closing price Reversal setup ensures as a result of the failed break of that zone. This is a counter trend sigal but looks good enouh to trigger a reversal on this pair.

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AUDJPY PRICE ACTION: The Week Ahead. August 04 - 09, 2013

 

 A fakey Price Action Setup, off the dynamic resistance 2 weeks ago which was preceded by the break of trendline 7weeks ago, has led to the break of the pairs weekly Support. The Price Action is quite clearly bearish as we expect sellers to continue to dominate in the new week. Therefore, we shall continue to seek bearish trade signals on the daily and intra-day time frames. 

My Recommendation: Stay Bearish

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