GBPUSD Price Action: GBPUSD breaks support as price closes below Inside Bar Trade Setup, July 03, 2013.

 

The Cable broke south of its inside bar formed at the closed of trading yesterday, inline with the dominant bearish trend. This scenario should usher in another round of selloff but only if the momentum is sustained. It is important to note that despite the bearish break, the pair is within its demand zone, an area that would interest many buyers. I would another day's wait to ascertain if the break is valid.

GBPCHF Price Action: Pin Bar Price Action Setup. July 2, 2013

 

 GBPCHF made a futile attempt to close above immediate resistance but was rejected and faced a sell-off subsequently from the combined effort of the horizontal and dynamic resistances, leading to the formation of a Pin Bar. This Price Action Setup should interest sellers , therefore price could tumble lower in the coming days. Immediate support is seen at about 1.4315.

EURUSD Price Action: Fakey with Pin Trade Setup, June 30, 2013

 

 The EURUSD has given a trend continuation Fakey Setup after price failed in its attempt to rotate higher following the inside bar trade setup from Thursday's close. The failed bulling retracement has lead to the formation of a Fakey with Pin Trade Setup which should send prices even lower in the coming week.

EURCHF PRICE ACTION: Closing Price Reversal Setup: June 30, 2013

 

 On June 26th, I discussed the Counter Trend Fakey Setup on the pair which came off quite well, but has now failed to close above the 21ema dynamic resistance, facing a very significant selloff in its attempt, leading to the formation of  a closing price Reversal Setup. This is a bearish signal and could send prices lower.

USDCAD Price Action: Pin Bar Trade Setup. June 27, 2013.

 

USDCAD has been in very bullish mood lately, even breaking though it recent highs. However, the past 4 trading days has seen the pair offset some of its excess bullish pressure, rotating back into its previously broken resistance which now acts as support. A Pin bar forms on a failed attempt to break back into the previous resistance but is rejected. This new Support should propel prices further high in the coming days.

EURCHF PRICE ACTION: Counter Trend Fakey Setup: June 26, 2013

 

 The EURCHF closed the day higher after the fakey setup from the previous day's trading session. expectations are for price to aim at the resistance zone as indicated on the chart. An ideal entry could be made on the intra-day time frame following a valid retracement and price action setup to go with the bulls.

AUDUSD Price Action: Counter Trend Fakey Setup: June 26, 2013

 

The Aussie seem to have hit a significant support and as a result aims to take a breather from the very dominant bearish trend. The Fakey Setup on the daily time-frame at-least signals for sellers to step out and wait for another entry, possibly as the market rotates back into resistance. Though this is a counter trend setup, it looks good enough to interest buyers.