GBPUSD Price Action: The week Ahead, 07/04/2013 - 12/04/2013

 

 The weekly Chart of the GBPUSD has seen the break of Key resistance at about 1.5273 as a result of great bullish pressure, therefore, it is expected that the pair would push higher in the coming weeks.

 

The daily Time frame shows the break of the same resistance in more detailed form. Price had hovered around it for 2weeks and with this current break, higher prices should be expected with possibly slight pullbacks into support.

My Recommendation: Buy pair on pull backs into Support at about 1.5250 with stops below the closing price reversal candle.

USDCHF Price Action: The week Ahead, 07/04/2013 - 12/04/2013

 

 The weekly chart of the USDCHF has shown consistent bullish rejections. The recent bearish outside bar, complimenting the previous one just 3weeks back, could send prices lower vigorously.

 

We have seen great strength on the chf in recent times with traders showing great confidence in the swiss economy. The break of support at 0.9383 seems to confirm this. Expectation are for lower prices in the coming days.

My recommendation: Sell pair on pullbacks into resistance on the intraday time frames.

EURAUD Price Action: The week Ahead, 07/04/2013 - 12/04/2013

 

 The weekly chart of the EURAUD has shown very significant rejection of lower prices. An outside bar is spotted after price closed above last weeks high. Expectations are for a resumption of an uptrend in the comming weeks.

 

 

Price exploded higher following the break of resistance at about 1.2352 with very little retracement. Another break was witnessed at about 1.2509. The entire scenario points to higher prices in the coming week however, rotations back into New Support at about 1.2352 should support more major explosions on the pair.

My Recommendation: Buy Pair on Rotations back into supports.

EURUSD Price Action: Closing Price reversal/break out 05/04/2013

 

EurUsd broke out of a 6days trading day range at the close of the days trading session with a Closing Price Reversal Price Action Setup. This seems to be a clear pointer to higher prices in the coming days. I did mention that I would be hesitant on taking any trades on it yet based on 03/03/2013 Closing Price Reversal Trade Setup and we now see why.

My Recommendation: Look out for long entries on the intraday time frames.

EURAUD Price Action: Pin Bar Trade Setup breaks out. 05/05/2013

 

 This pair mow seem to have shrugged off its bearish nature with the break of resistance seen at the close of the day's trading. Higher prices are expected i the coming days.

Join me in the Trade Room to see how I intend taking advantage of this breakout.

My Recommendation: Look for long entries on intraday time frames.

AUDUSD Price Action: Pin Bar Trade Setup, pulls off 05/04/2013

 

The pair has pulled off significantly from the Pin bar Price action setup discussed yesterday. I was going to be cautious on placing a sell entry based on this setup but price now seems to have given out its intended direction and if the support just below (1.0400) is broken, then the pair could look to make lows into 1.0300.

My Recommendation: Sell cautiously with stops above recent highs.

AUDCHF Price Action: Pin Trade Setup, pulls off. 05/04/2013

 In yesterday's commentary, I pointed out that it was safe to sell this pair with stops above recent highs based on the Pin Bar Trade Setup spotted on it. The trade has pulled off significantly. I expect even lower prices in the coming days selling price rotations back into the new resistance as indicated in the chart. Notice that I have my horizontal lines re-drawn, this is a major aspect of my Advanced Price Action Course.

My Recommendation: Stay bearish