Emotions are still strong on the markets. In the end of yesterday’s US session gold and silver started to rise, so something is going on. If we add 5% decrease of NIKKEI and barely defended support on S&P500 it doesn’t look very nice. There can be some good investment opportunities but maybe it won’t be Forex. I start to watch also mentioned metals and some stocks, for example Deustche Bank which has gap to close.

AUDJPY

Pin Bar showed up here. However it is not very convincing especially because it is on pair with currency strongly addicted to gold price. So far I will not play against AUD.

If you are interested in Price Action Strategy description, you can read it here.

AUDJPYH4-2-12-2016-1024x500

AUDUSD

Different situation on Aussie. Long position was opened and yesterday’s candle is another buy signal so if someone didn’t opened long position by now, he can consider it. There should be some stronger moves on Aussie and gold gaining should help it.

AUDUSDDaily-2-12-2016-1024x500

EURJPY

Weak buy signal on this pair. Yesterday support was rejected but bearish trend so strong that I would not consider long positions, but look for shorts in case of bullish corrections. The best scenario is breaking support, its re-test form below and then enter shorts.

YOU CAN START USING PRICE ACTION AND INVEST ON FOREX MARKET USING FREE XM BROKER ACCOUNT.

EURJPYDaily-2-12-2016-1024x500

GBPJPY

Strong break of support, bullish correction and sell signal showed up in shape of Pin Bar. I set sell limit order on 50% retracement of this candle with 100 pips of SL, secured before reaching last low and the target is 800 pips.

GBPJPYH4-2-12-2016-1024x500

NZDJPY

Buy signal on this pair. Here bearish trend is not so strong and if yen would have bullish correction, the strongest one should be over here. Position has RR 3:1 which is minimal requirement in positions against trend and it can be interesting.

NZDJPYDaily-2-12-2016-1024x500

USDCHF

Sell limit order is still active. After decrease below support there was a re-test from below and Pin Bar showed up. Now we just have to wait.

USDCHFDaily-2-12-2016-1024x500

Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)