A lot has happened during yesterday’s session. Euro weakened greatly after M. Draghi speeches, about the impact of a strong common currency on the ECB policy. Yen starts to appreciate – probably due to worse situation in Ukraine. Let’s star today’s Price Action Setups review:
CAD/JPY:
Currency pair is approaching a key support and buy signals in its vicinity will be a occasion to open long positions.
EUR/CAD:
Euro to Canadian dollar shows a clear upward trend. Price is on the support and today a PA buy signal may occur in its vicinity – which of course give a occasion to open long positions.
EUR/JPY:
Cross is currently at a key support and the price movements will be crucial at today’s session. Or there will be an opportunity to open long positions, or price will slips even lower by changing sentiment to downward one.
EUR/USD:
Yesterday’s strong Euro sale has brought Eurodollar to the range of 1.3830 – 1.3900. Rebound from the lower limit with simultaneous buy signal occurrence will let open long positions with accordance to long-term trend.
GBP/JPY:
This is 6 downward session in a row when it comes to GBP/JPY. It brought the currency pair below more than 500 pips below the last highs, near the support area. We will observe here really interesting and important battle. The trend is upward, so any long positions are fairly acceptable.
GBP/USD:
Cable gave away all of its yesterday’s increase and approached the Wednesday’s pin bar area. This gives the ability to open long positions –for those who did not do it yet and are trading using the breakout of pin bar maximum technique. Currently, you can also wait for the 50% of the candle’s abolition which will gave a much better risk reward.
