AUDUSD Price Action: Break of Support, June 19, 2013

 

 AUDUSD was faced with massive selloff following the bullish tone of the FOMC statement. The intensity of the move saw it break through support easily, which should open the doors for further bearishness. A minor rotation back into new resistance could ensure from where intra day sell bearish setups should be sort.

GBPUSD Price Action: GBPUSD frets around Support Zone, June 19, 2013.

 

On June 11, 2013, I drew our attention to the break of an inside bar trade setup on the Cable and price had been on a buoyant mood until yesterday when it lost ground, dropping again into the zone from where the previous inside bar formed. Expectations are for a bounce to occur at about this Support Zone, however, a break would change the entire complexion of the pair.

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USDJPY Price Action: Inside Bar Trade Setup. June 17, 2013

 

USDJPY is on a strong bearish run which still looks like continuing. Today's Price Action gave out an Inside Bar Trade Setup. The Trade Room has made a pending sell order just above the inside bar with targets towards support at about 93.00. The Inside bar in a confirmed down trend as we have here is usually a trend continuation pattern.

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EURUSD Price Action: Inside Bar Trade Setup. Against Market Open June 16, 2013

 

 The last time I ran a commentary on the EURUSD was May 30. My focus was on its bullish breakout. Price has continued to aim higher with no signs of slowing down. However, Friday's close did send a signal of a possible rotation back into near Support at about 1.3250, after the day ended as an Inside Pin Bar Price Action Trade Setup. That Support zone should also interest buyers as the bullish strength on this pair lacks any real signs of ending at the moment.

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AUDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Aussie has a very similar setup to the Kiwi, ending the day with a Closing Price Reversal Trade Setup but not without picking the Trade Rooms Sell Limit order at 0.9636, a clear 68pips above the current price. The entry was quite precise and the Trade room projects a take profit of about 140pips, about 70pips lower from its current price. The pair also seems like shaking off it very recent bearish tone, therefore the support zone as indicated above should interest buyers.

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NZDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Kiwi shot a bit higher than my anticipated entry region, check June 12, 2013. However, it still had a significant price rejection at about that zone, filling our sell limit order and closing the day with a significant price action bearish setup. The potential reward on this trade was eventually cut down from a previous projection of about 200pips to just about 70pips. Hopefully, price will attempt to reach support at about 0.7990 and trigger our take profit. Buyers are expected to kick in at about that point as the pair finally seems to be shaking off its bearish nature.

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USDJPY Price Action: Counter Trend Pin Bar. June 13, 2013

 

 The pair has continued to fall freely from its recent highs, breaking and closing below support at about 96.06. Though price retraced forming a pin bar at the close of trading today, the bearish bias on the pair remains. Short entries on the intraday time frame could be sort at about the new resistance.

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