NZDUSD Price Action: Inside Pin Price Action Setup. 27/04/2013

 

 The last trading day of the week saw the Kiwi close with an Inside Pin Price Action Setup, after price twice failed to clear resistance at about 0.8510. If this setup pulls off, I expect a significant bearish push into support at about 0.8400 - 0.8300 regions.

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USDCAD Price Action: Fakey with Pin Price Action Setup, pulls off. 25/04/2013

 

 Following the Fakey with Pin Price Action Setup discussed on the 22nd April, Price has tumbled lower after another couple of Pin Bars. Price should attempt to reach Support as shown above.

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GBPJPY Price Action: Fakey with Pin Price Action Setup, pulls off 25/04/2013

 

The Fakey with Pin Bar Price Action Setup pulled off gracefully as it hits resistance as shown above. This bullish move had been anticipated following the Inside Bar price Action Setup pointed out on 22/04/2013. 

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AUDUSD Price Action:Pin Bar Price Action Setup, 25/04/2013

 

The Dynamic resistance managed to prevent the Aussie from getting past it, significantly initiating a sell-off as the pair hit it, however, I consider this setup a low quality price Action setup, since the rejection didnt coincide with the horizontal resistance. I will sit out this Setup.

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EURAUD Price Action:Closing Price Reversal Price Action Setup, 24/04/2013

 

 Following a failed attempt by the pair to break higher above 1.2750 Zone which happens to be a Key Resistance Zone and subsequent closure below 1.2680 from the trading of the last 3 days, this pair is expected to initiate a sell-off that could see prices moving into support zones as shown above.

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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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