Finally there is some broader action in the markets! After yesterday G10 currencies become more volatile – dynamic dollar strengthening, pound sterling slippage and huge moves on other pairs with USD that can forecast interesting end of the month.
For today we have more pairs than usual, so everyone can find attractive trading signals.
AUD/NZD
It seemed that Australian dollar to the New Zealand one will move back again after ineffective attack. But now we see that bulls were just gaining strength. On the H4 chart price tested previous resistance level, which now should act as support. Further and deeper increases are likely, so we should observe 1.1020 vicinity for PA purchase signals.
EUR/USD
Single currency to American dollar fell to key support (1.3300). This is the perfect spot for the potential price rebound. Traders that like trend-opposite transaction may look for clear Price Action buy signals. More conservative investors should wait for correction and activate trend-following shorts.
GBP/AUD
Cross fell in the vicinity of really important support level, which stopped further slumps few times before (D1 chart). Currency pair is currently in broad consolidation, so opening long positions will be a good idea. Long term goal is 500 pips higher.
GBP/USD
Cable decisively fell during yesterday session. Support did not work and now we should look for short positioning opportunities in its vicinity. Next support is localized 150 pips lower, but the really strong one in 1.6250-1.6200 zone (350 pips lower).
NZD/USD
Also Kiwi broke the last barrier, which may stop the rate and block the massive downward move. As we can see on the chart there is a lack of additional supports between the price and the key level at 0.8080. It gives a potential to huge slippages (around 300 pips), which on this pair is really precious. It will look even better, if the position opens near the previous support (which should act as a resistance now).
USD/JPY
Another positive surprise – Ninja is still increasing! Now there is a third upward candle in a row forming on the daily chart, which may forecast even bigger uptrend. In the broader perspective, USD/JPY is however in the sideways momentum, so 103.75-104.10 area may stop the price and activate downward consolidation. After decisive Price Action signal in this area, we may swing trade and target support near 101.10.
