The last day of the month and also the last Price Action Setups review for this week. Let’s start the Friday’s technical analysis using PA technique:
AUD/JPY:
Once again the price is challenging the strong support – this time a little deeper. A clear buy signal from the PA can be used to open long positions. However, it seems more likely that the current level will be broken soon.
AUD/NZD:
Yesterday, currency pair broke the support which now should act as resistance zone. It is worth to lok for Price Action sell signal within the level re-challenge from the bottom. Sentiment changed to downward one – which is consistent with the long-term trend.
EUR/USD:
EUR/USD ceased to respect the 1.3700 level. Yesterday’s strong growth shows clearly, that there is a “desire” to challenge 1.38. The whole situation is now quite unclear, so for the moment just do not open any positions.
NZD/USD:
Finally, there was a long-awaited resistance test and what will happen know is going to be crucial for the action on Kiwi in the nearest future. A clear sill signal will mean a return to wide consolidation and a fall to the support. Break and successful re-challenge from the top will mean upward trend and approaching area of 0.8540.
