USDCAD Price Action: Fakey With Pin Trade Setup, pulls off. June 6, 2013.

 

 The Fakey with Pin Bar Trade Setup discussed yesterday on the USDCAD has pulled off, taking out the projected TP of the Trade Room. The selloff also managed to close beyond the Support which leaves room for further bearishness. Price may now target the next support as shown above.

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USDCAD Price Action: Fakey With Pin Trade Setup, June 5, 2013.

 

 USDCAD made a futile attempt at closing above the previous days inside bar price Action Setup. A Fakey with Pin Price Action Setup ensures which could send prices lower into support as shown above. Price  Action buy setups would be anticipated at that point however, a break would send prices lower.

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NZDUSD Price Action: Outside Bar Trade Setup pulls lower and setup up an Inside Bar. June 4, 2013

 

 I decided to do a follow up on the trade commentary from yesterday, to show how the Trade room got filled in on the Outside Bar Trade Setup. The entry was eventually made at about the Key Support Zone with stops below recent lows, target will be towards the zone marked as the key resistance zone.

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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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