EURUSD Price Action: Inside Bar Price Action Setup, 27/04/2013

 

 I had expected a resumption of a down trend following the Pin Bar on the Euro at the close of Trading on Thursday 25th April, but there was a significant reluctance on the part of traders to sell this pair hence, we ended the day with an inside bar Price Action Setup. Following this setup, I would expect a bit more bullishness on this pair and watch reaction of the pair as it approaches the resistance zone as indicated above.

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AUDUSD Price Action:Pin Bar Price Action Setup, 27/04/2013

  

The Aussie closed Friday with a clear bearish pin bar price action sell setup as price failed to stay buoyant as it approached the dynamic resistances. Twice in two days, the dynamic resistances acted as a catalyst for sell triggers and with a close now, below the minor support, the road seems clear for more bears in the coming week.

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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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