Markets are relatively calm – only gold moved up quite a bit. It remains to wait for some event that will shake the situation on the stocks and currencies. I invite you to potential PA setups review:
AUD/JPY:
Pair respected yesterday support (previously resistance) and tested it repeatedly. It is worth to observe this cross and in the case of clear Price Action purchase signal open long positions – in accordance to the recent momentum.
EUR/USD:
The most popular currency pair failed to close above the resistance yesterday. It seems that further declines are inevitable. Play it short – of course after some clearer sale signals.
NZD/USD:
Kiwi bounced slightly from the support area, but did not give any purchase opportunity. We need a clear test of the key support, where price reflected three times in the past. NZD/USD definitely looks as a pair, that is worth observing in the nearest future.
XAU/USD:
Quite unexpectedly, Gold hurtled down yesterday. After a long and lazy consolidation, strong motion brought the price below key support. This may indicate that XAU/USD should continue its falls. Momentum is clear here and traders should look for short positioning opportunities. Good chance to open the position may show after re-test of current low (April 24) or HL’s from May 2 and 12. Then, after sell signal, it will be possible to open short positions.