Let’s start today’s PA setups review. For today we prepared five currency pairs – AUD/NZD, EUR/UAD, EUR/JPY, EUR/USD and GBP/USD:

AUD/NZD:

Currency pair cannot break the local resistance near 1.0872 area. Maximum set on April 28, has been tested three times in the last few days. If the level cannot be broken again, it will be worth looking for PA sell signals. Provided, that the stop loss will be rather small, which taking into account the “laziness” of currency pair and earlier signals is really possible.

EUR/AUD:

Currency pair broke support yesterday, and exacerbated declines in the night. In the present situation it is worth looking only for sell opportunities – after level re-test from the bottom.

EUR/JPY:

I mentioned this cross in yesterday’s review. A buy signal from Friday led to rebound, but Tuesday brought a strong correction. Price is now located in the vicinity of the pin-bar maximum, which formed at the end of the week – it allows us to open positions.

You could event enter long on 50% of its abolition with SL of about 15 pips. Given that the potential of rebound is over 200 pips, it looks really interesting.

EUR/USD:

Eurodollar has deepened its decline and stopped on the support. On the H4 chart you can see a purchase signal, which stands however in opposition to recent momentum. Looking more broadly, EUR/USD is in consolidation, so we may consider long positioning.

GBP/USD

The Cable also rebounded from the key support level. You can discern the signal from inside bar, but it occurred at night, so only a few were able to use it. It is worth to wait for another tests and buy signals.

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