USDJPY Price Action: Inside Bar Trade Setup. June 17, 2013

 

USDJPY is on a strong bearish run which still looks like continuing. Today's Price Action gave out an Inside Bar Trade Setup. The Trade Room has made a pending sell order just above the inside bar with targets towards support at about 93.00. The Inside bar in a confirmed down trend as we have here is usually a trend continuation pattern.

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EURUSD Price Action: Inside Bar Trade Setup. Against Market Open June 16, 2013

 

 The last time I ran a commentary on the EURUSD was May 30. My focus was on its bullish breakout. Price has continued to aim higher with no signs of slowing down. However, Friday's close did send a signal of a possible rotation back into near Support at about 1.3250, after the day ended as an Inside Pin Bar Price Action Trade Setup. That Support zone should also interest buyers as the bullish strength on this pair lacks any real signs of ending at the moment.

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AUDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Aussie has a very similar setup to the Kiwi, ending the day with a Closing Price Reversal Trade Setup but not without picking the Trade Rooms Sell Limit order at 0.9636, a clear 68pips above the current price. The entry was quite precise and the Trade room projects a take profit of about 140pips, about 70pips lower from its current price. The pair also seems like shaking off it very recent bearish tone, therefore the support zone as indicated above should interest buyers.

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NZDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Kiwi shot a bit higher than my anticipated entry region, check June 12, 2013. However, it still had a significant price rejection at about that zone, filling our sell limit order and closing the day with a significant price action bearish setup. The potential reward on this trade was eventually cut down from a previous projection of about 200pips to just about 70pips. Hopefully, price will attempt to reach support at about 0.7990 and trigger our take profit. Buyers are expected to kick in at about that point as the pair finally seems to be shaking off its bearish nature.

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USDJPY Price Action: Counter Trend Pin Bar. June 13, 2013

 

 The pair has continued to fall freely from its recent highs, breaking and closing below support at about 96.06. Though price retraced forming a pin bar at the close of trading today, the bearish bias on the pair remains. Short entries on the intraday time frame could be sort at about the new resistance.

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NZDUSD Price Action: Inside Bar Trade Setup. June 12, 2013

 

The bears on NZDUSD has been showing signs of slowing down  in recent times, but its always adviseable to go with the dominant trend, in this case, bearish. The day closed with no significant moves as the entire trading was sequisted by the previous day's, leading to the formation of an Inside Bar trade setup. Price also now trades  around key resistance and there is great possibilty that price would be rejected at about 0.8070 region, which should lead to the formation of a fakey setup. The trade room already has its pending sell order in place. However, this scenario would be completely changed if price were able to close above this key resistance zone.

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GBPUSD Price Action: Break of Inside Bar trade setup. June 11, 2013.

 

There has been a breakout on the GBPUSD as the dollar continues to be faced with immense selling pressure against the Pound and Euro. The break of the inside Bar Trade Setup from the previous day is further indication that price could aim to reach the next resistance as indicated above.

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