Welcome in today’s potential setups review using Price Action trading technique.

AUD/NZD:

Daily candle closed below the key support and now we are in ongoing upward correction. Taking into the account last, strong momentum (downward one) we should wait for PA sell signals and think about opening short positions. The target here is the next support zone – approximately 100pips lower.

GBP/JPY:

Dynamic consolidation near the support zone. Yesterday breakout may be considered as fake one, because the price increased dramatically. Big pin-bar candle formed, giving purchase signal. However, three downward candles in a row took the price below the 50% of its abolition, which may be opportunity to open long positions. The strong downward momentum frost last night might be a little worrying.

NZD/USD:

Kiwi closed on record levels, reaching the highest price since 2011. Trend is really strong and it is worth to look only for purchase opportunities. The first one may be seen during a downward correction and re-test of latter resistance, which now should act as a support.

XAU/USD:

Gold rebounds from the next support, forming pin-bar candle on H1. Correction to the 50% of its abolition will be an occasion to go long – bulls are in the charge, which can be easily seen on the chart.

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