NZDUSD Price Action: Breakout 23/03/2013

 

The pair Broke out of its constrained range and should target higher prices in the coming days. It should be noted that the pair had bounced from Key Support at 0.8184 which had served as a good support for this pair on many other occasions.

My Recommendation: Buy pair on failed break of new support.

USDCAD Price Action: Fakey With Pin Setup, 22/03/2013

 

A Fakey With Pin Price Action Setup at the close of trading today could send prices higher in the coming days. This Setup confluences with the horizontal and dynamic supports, therefore is rated quite high. 

My recommendation: Buy pair with stops below recent low.

EURJPY Price Action: Outside Bar Trade Setup, 22/03/2013

 

 The eurjpy successfully covered the gap experienced at market open on Monday but was quickly rejected as it approached Friday's low. Price closes as an outside bar and the expectation is for further decline in the comming days. Join me in my trade room to see how I intend to trade this pair and the like.

My Recommendation: Sell pair with SL above recent highs.

AUDCHF Price Action: Pin Bar/ Pivot Top Trade Setup, still hovering. 22/03/2013

 

 Despite the combo of setups that appeared at the close of trading on the 19/03/2013, I pointed out that it would be a bit too premature to  short the pair. Price at the moment, is trading far higher and about breaking resistance. 

My recommendation: Wait to see reaction at resistance.

GBPCHF Price Action: Fakey with Pin Setup, pullls off: 22/03/2013

 

At the close of the trading day yesterday, I drew attention to the Fakey with Pin Price Action Setup available on the daily chart and recommended going bullish based on the setup. The pair closed higher at the close of today;s trading. Even higher prices are expected in the coming days since the pair has successfully broken from 1,2,3 bottom signifying the end of the previous down trend. 

My Recommendation: Stay bullish

GBPCHF Price Action: Fakey with Pin Setup, 21/03/2013

 

A Fakey With Pin Price Action Setup on the pair, off horizontal and dynamic supports could send prices higher in the coming days. Notice the New support had acted previously as reistance but had been broken and now tends to support the pair while it attempted to break lower again.

My Recommendation: Buy pair with stops below recent lows.

USDCHF Price Action: Pin Bar Setup, 21/03/2013

 

A Pin Bar Price Action Setup has been spotted on the daily chart of the pair, confluencing with dynamic and horizontal supports. This setup could push price higher in the coming days.

My Recommendation: Buy cautiously resistance just above (0.9490)