Hello after a break caused by the long-awaited holidays. We can say that little has happened actually on the markets. Decline of pound in line with actual trend – if it would have bounced up strongly it would be a cause for surprise. From many people, really professional, I heard that they are buying pound for long term because it is very overpriced. I repeat again and again that the trend is bearish and until there is a clear technical signal of its end I continue to search shorts. Of course, sometimes I was also opening longs, during the bounce from support levels, but it is only a trade to the closest resistance.

After 14 days break a glance on the charts only decline of Euro is what caused a reflection. EURUSD breaks supports one after another and is getting closer to test its extremely important one in area of 1.095. Time to look for an opportunity to enter:

AUDNZD

After a false breaking of support increases occurred, which led AUDNZD to resistance. Now this level is tested and depending on the behaviour of the price we will decide to sell or buy. Short only under condition that we will have a sell signal from Price Action on the daily chart.

There is also possible a second scenario – continuation of growth. If the price strikes over the resistance and the daily candle closes above then you can also look for longs at the H4 chart.

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

EURAUD

A pair EURAUD despite the weakness of the AUD fell to support. If the single European currency is to rebound, this should happen on the current level. Therefore, I will be watching the behaviour of price. If we get a buy signal from D1 you can consider playing long. However much more likely it seems to me, a further decline of Euro and rebound of AUD. This would result in a further drop on this pair and then I will seek for shorts:

EURCAD

The situation is similar for the Euro to Canadian Dollar. Scenarios are the same as for the previous pair.

NZDJPY

For more than two months I’m holding an open position in the NZDJPY. Swap is positive so that doesn’t really bother me. As for me, it may be opened all the time, although the surplus of 0.5% of account for 2 months does not make any great difference. But it’s always something.

USDJPY

This pair is testing resistance. Here it is possible to play both shorts and longs. For the time being until we are below the resistance we should consider shorts, but if they manage to break above then of course I will look for opportunities to open long position from the H4 chart.

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