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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EURUSD Price Action: Breaks out Range Bound Market. May 30, 2013

 

 The trade room had gone short yesterday in anticipation of contunation of the about 100pips range bounded market but price broke north hitting our stop. This leaves a completely new bias on the pair. Long entries would be sort as price rotates into New Support.

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NZDUSD Price Action: Pin Bar Trade Setup. May 30, 2013.

 

The pair managed to complete a 1:2 Risk Reward from yesterday's Pin Bar Trade Setup but was quickly rejected as it touched Support forming a Pin Bar at the close of Trading.This setup leaves us with a bullish bias and entries would be sort at the 50% retracement region of the Pin bar.

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NZDUSD Price Action: Pin Bar Trade Setup. May 29, 2013.

 

The Kiwi has given off a Pin Bar Price Action Trade Setup which is expected to send prices lower and if price rotates into the 50% retracement entry zone, the setup would then offer a decent 1:2 risk reward ratio. The trade room has already made an entry on this setup as price failed in its bid to break above the previous Pin Bar high. It is important to note that the pair is currently shaping to shake-off the recent very bearish pressure on it.

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