AUDUSD Price Action: Closing Price Reversal Trade Setup, April 18, 2013.

 

 I recommended selling this pair yesterday following the nature of its Closing Price Reversal Trade Setup. My bias on this pair remains unchanged.

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GBPUSD Price Action: Inside Bar Trade Setup, April 18, 2013.

 

 I advised going short on this pair if we could get a reasonable bearish push on the pair before London open yesterday, which eventually didn't happen. Instead, price moved and closed above the support line. Traders seem undecided on the next direction of this pair.

My Recommendation: Waiting one day to allow market decide on its direction.

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USDJPY Price Action: Closing Price Reversal Trade Setup, April 18, 2013.

 

Following the Closing Price Reversal Trade Setup found on the pair, after price rotated into Key near term support at 86.59, there seem now, to be a resumption of the more dominant bullish trend. Expectations are for price to approach Resistance at about 99.70.

My Recommendation: Stay bullish

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AUDUSD Price Action: Closing Price Reversal Trade Setup, April 17, 2013.

 

AUDUSD nose dived after hitting Key Resistance at about 1.0580, racing past Support at 1.0365 and now closing below another support at 1.0300. It does appear that the bears are still very much in control therefore price should approach the next support around 1.0220 in the coming days. The Closing Price Reversal price Action Trade Setup also is in support of more bears.

My Recommendation: Sell pair with stops above the Closing price Reversal candle.

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GBPUSD Price Action: Closing Price Reversal Trade Setup, April 17, 2013.

 

 GBPUSD has broken support at around 1.5260 after a failed attempt to target higher prices. If this break is sustained, price will attempt to reach lower prices. Hidden support is still at about 1.5030.

My Recommendation: I would support shorting this pair if we can get lower prices before the London Session.

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USDCHF Price Action: The Week Ahead, 14/04/2013-19/04/2013

 

Price has fallen lower following the outside bar price Action Spotted last week. There is no Key Support seen on the weekly chart till about 0.9070.

 

 Price Broke through minor Daily Support at about 0.9290 an indication that the recent bearishness on the pair should continue.

GBPCHF Price Action: The Week Ahead, 14/04/2013-19/04/2013

 

Following the Closing Price Reversal Setup spotted on the pair last week, price has pulled lower modestly. I do envisage even lower prices. Key Support is seen at 1.4025

 

The Daily Chart also offer a Fakey/Closing Price Reversal Setup. Price Should attempt to Target Support as long as the New Resistance at 1.4288 remains unbridged.