GBPJPY Price Action: The week Ahead, 1/04/2013 - 5/04/2013

 

 There is a fakey setup on the weekly chart of the pair indication bullish possibilities. If this Setup is to pull off extensively, A bullish close should be seen at the end of the weeks trading.

Join me in the Trade Room to experience professional forex trading

GBPUSD Price Action: The week Ahead, 1/04/2013 - 5/04/2013

 

GBPUSD trades close to weekly resistance and could face bearish pressure however, the Pin Bar Price Action Setup the week closed in, shows more of the bullish pressure. A break of resistance would see price attempt to target the next resistance at 1.5626.

Join me in the Trade Room to see and experience trading in a professional way.

EURGBP Price Action: Inside bar Trade Setup, 31/03/2013

 

 This setup should support further bearishness on the pair as support is seen just below at about 0.8322.

My Recommendation: Remain Bearish

AUDUSD Price Action: Inside Bar Trade Setup, 30/03/2013

 

The inside bar trade setup on the AUDUSD after a small rotation back into support (1.0407) could mean price setting up for a new round of buying pressure. 

My Recommendation: I will advice for another trading days wait to get a clearer view on this setup.

EURJPY Price Action: Inside Pin Bar Trade Setup, 30/03/2013

 

The EURJPY has given off an inside Pinbar Trade setup at Support (120.70). This tends to counter the initial fakey trade setup discussed in its previous commentary. If this setup pulls off, target could be at about 124.00 which is the nearest resistance.

My Recommendation: I will wait one more day to make a proper assessment of this setup.

NZDUSD Price Action: Inside Bar Trade Setup, 29/03/2013

 

The inside bar trade setup is a very significant Price Action Setup. It marks indecision and at the same time could mean continuation of a previous trend or a  reversal into a new trend. Spotted on the daily chart of the NZDUSD, just above New support  Zone, it is expected that the previous bullish trend should continue targeting the next resistance at about 0.8460. If this setup were to fail, the new support would have to give way for any extensive bearishness.

My Recommendation: I may want to wait another day in order to be sure on the pairs direction.

EURAUD Price Action: Bullish 2 bar Reversal, 29/03/2013

 

The extensive bearish run on the pair could now be set for some pull back following the formation of  an outside bar/bullish 2 bar reversal price action setup at the close of today's trading. While the trend remains bearish, there is room for price rotation into resistance region at about 1.2550 if it manages to break above 1.2385.

Join me in the Trade Room to see if and how I intend to trade this setup

My recommendation: Trade the bullish pullback or wait till price hits resistance to rejoin the major bearish trend.