Welcome after weekend! Markets are slowly wakening up – so as usually on Monday we will review the situation from Friday and candles closure from the end of the previous week. Lots of currency pairs today so let’s start:
CAD/JPY:
Currency pair is approaching a key resistance. Canadian dollar is one of the weakest currency recently, so opposite to other currency pairs we do not see a demand. Only clear signals from daily chart may be give occasions to open long positions.
EUR/JPY:
Totally different situation here. Longer lower wicks of daily shadows indicates demand which is activating on the key support near 141.00. On the lower timeframes we can see first PA buy signals.
EUR/USD:
Lack of the panic in the markets is reflected in the Eurodollar. A pair rebounded on Friday from the vicinity of Wednesday’s minimum over resistance at 1.3900, closing the weekly candle slightly above. The current direction is North.
GBP/AUD:
Price rebounds from the local support, long-term trend is upward so you can look for buy signals.
GBP/JPY
Another pair with yen which defends the support. A clear long shadow shows an active demand. It is worth to look for long positions.
GBP/USD:
I presented Cable recently, as it was extremely interesting. On Wednesday we had a buy signal from the daily chart, on Thursday unfortunately the price managed to escape, but Friday allowed to open long positions on 50% of candle’s abolition which gives a much better profit-to-risk ratio. In addition, yesterday’s session ended with a growth pin-bar – which gives another buy signal. This could be the beginning of another growth momentum on GBP/USD.
USD/JPY:
Sell signals beautifully acted on USD to JPY. Currency pair dropped below the support on Wednesday, later testing it twice from the bottom and giving a sell signal. Position on 50% of one of the pin-bars abolition could be opened even with a stop loss of approximately 10 pips. A pair came perfectly to the last lower level, giving around 150 pips of profit which with so small LS gives really good result!
