EURUSD Price Action:Fakey With Pin pulls off, hits minor support 24/04/2013

 

The Euro pulled higher today after hitting minor support at about 1.2950. While I still expect further bears on this pair, it is important not to discount this support zone which holds the key to lower prices. Price had initiated this bearishness following the Fakey with Pin Price Action Setup four days back.

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Gold Price Action: Inside Bar Price Action Setup, 23/04/2013

 

The metal needed a breather after the massive sell off its been faced with recently but it does seem like the bulls may be unable to push it past this confluence of the horizontal/dynamic resistance region. An inside bar at resistance as seen on its chart could send prices back to recent lows as long as its mother bar high is not violated.

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NZDUSD Price Action:Pin Bar Price Action Setup, 23/04/2013

 

Four days ago, the Kiwi failed in its attempt to move higher, this was again quickly followed by yet another failed attempt to rotate higher the next day. Both days closed as pin Bars, an indication that we were to see lower prices. Despite today's close being a Pin Bar, the downside side bias and pressure remains not until the resistance Zone is convincingly cleared as indicated above in the chart.

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GBPJPY Price Action: Inside Pin Price Action Setup, 22/04/2013

 The Geppy traded within the body of its previous candle but closed higher than its previous closing price, to suggest that the bulls are still very much in control. The Inside Pin Bar Trade Setup should aid the pairs attempt to reach resistance at about 153.40.

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USDCAD Price Action: Fakey with Pin Price Action Setup, 22/04/2013

The Loonie was sold off as it attempted to cross through 1.0285 (a very Significant Resistance) with price eventually closing below last fridays closing price, forming a Pin Bar in the process. The pair had been expected to push higher as a result of the previous 2 Pin Bars. This present Fakey with Pin Trade Setup could push prices lower into Minor support at about 1.0210. 

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EURJPY Price Action: The Week Ahead 21st -26th April, 2013

 

A Pinbar off a confluence zone of the 8ema dynamic and horizontal supports should push prices higher within this week.

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GBPUSD Price Action: The Week Ahead 21st -26th April, 2013

 

The Pivot top price action setup gives us great reason to expect a resumption of the previous more dominant down trend on the pair. My bias on this pair for the week is bearish.

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