Price Action Daily Setups – EURUSD, GBPCHF, USDCAD – May 24th

Only three currency pairs today, as I do not see to many market opportunities. Let’s start!

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EURUSD

Eurodollar consolidates near support level and for now I do not see any clear purchase signals. If they show I will consider long position, as the main trend is clearly upward.

GBPCHF

I am still waiting for deeper correction here. Price should reach to the zone between two support levels and after the Price Action purchase signal I will open longs. We can use also H4 chart, as the short-term trend is also upward.

USDCAD

We observe a really slow increase on US dollar to Canadian dollar. We need a test of resistance and then it should be clear where the currency pair wants to move. If resistance breaks, I will look for longs, if rebound and sell signal occurs, I will try to catch shorts.

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