USDJPY Price Action: Inside Pin Bar Price Action Setup. May 1, 2013

 

 At my last commentary of the yen, I pointed out that the pair had approached a key resistance. Price has so far, rotated past immediate support around 97.64, (which now acts as resistance) and could target even lower prices however, the pair is within key support zone and buyers could move in at these prices. The Inside Pin bar Price Action Setup is a further reason to anticipate bulls coming in to push prices higher but The previous support now turned resistance has got to be broken for a any reasonable bullishness on this pair.

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GBPUSD Price Action: Pin Bar Price Action Setup, 1/05/2013

 

 The Cable has been on a very dominant bullish run but appears to be slowing at this time. Today's candle closed as a Pin Bar, but going by the strength of this trend, it would be safer to wait for rotations back into supports to join the more dominant bullish trend. However, if price continues higher, we will look to make sell entries pending price Action at resistance just above.

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EURUSD Price Action: Explodes higher from Inside Bar Price Action Setup, 30/04/2013

 

 The EURO has exploded higher, following the Inside Bar Price Action Setup Spotted in my last commentary on the pair. It remains to be seen if the recent high at about 1.3200 will halt this very strong bullish move. If it doesn't, we would anticipate a reversal as it moves into the Key Resistance Zone as indicated above.

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NZDUSD Price Action: explodes higher. 30/04/2013

 

The Kiwi exploded  higher after an anticipated sell-off failed to materialize following its Inside Pin Price Action Setup. When setups occur on the daily time frames, entries are sort on the intra-day time frames. In this case, there was no reasonable bearish setup on the intra-day as Traders were more interested in the more dominant bullish trend.

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EURGBP Price Action: Pivot Bottom Trade Setup, 29/04/2013

 

 The previous Key support Zone on the EURGBP (around 0.8420) has halted the sell off on the pair once again, after previously halting it and going bullish after a Fakey with Pin Price Action Setup. This time around, we have a Pivot Bottom Price Action Setup. If this setup pulls off and is able to break through immediate resistance at about 0.8470, price would then attempt to reach Key Resistance at about 0.8570.

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EURAUD Price Action:Closing Price Reversal Price Action Setup, 29/04/2013

 

The last time I ran a commentary on this pair, I did discuss its Closing price reversal setup. Once again, we have a similar setup but this time, price has shown even greater reluctance to reach previous higher prices. If this setup pulls off and does manage to break through immediate support at about 1.2603, The next support is not seen until about 1.2470

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GBPJPY Price Action: Closing Price Reversal Price Action Setup, 27/04/2013

 

In my last post on the Geppy, I mentioned that price had hit resistance following the previous Inside Pin Price Action Setup. Friday's Trading saw a significant sell-off on the pair and a subsequent Price Action setup: The Closing Price Reversal Setup. Expectations are for further bears in the coming days with supports at 149.90 - 147.60 zone.

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