Strong gain of commodities caused strengthening of currencies which are correlated with them. It can be a beginning of some interesting opportunities.

GBPAUD

This pair is in very dynamic bearish trend. There was a consolidation during last sessions and it can be great opportunity after a rebound. If it will happen we have to wait for correction which will test support from below and then after Price Action signal showing up.

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

GBPAUDDaily-4-13-2016-696x304

GBPCHF

After breaking support this pair is in bullish correction. D1 resistance is still working so if there will be any sell signal in this area we can open short positions consistent with the trend.

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

GBPCHFDaily-4-13-2016-696x304

GBPJPY

Yesterday I wrote about possible signal over here. Pin Bar showed up on H4 chart and I opened short position. Currently it is losing but I wait for further improvement.

GBPJPYH4-4-13-2016-696x304

USDCAD

After commodities going up this pair broke support and it can be a good opportunity to open shorts if there will be any bullish correction. We can be worried about possible rebound.

USDCADDaily-4-13-2016-696x304

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Marcin Wenus
Comparic.com Editor-in-Chief. Trading since 2004, professionally connected with Forex market since 2006. Fan of technical approach to the markets – currently focuses on Ichimoku Kinko Hyo and Price Action strategies. He focuses on favorable risk-reward ratio in his own transactions. Speaker at many conferences on investment in capital markets, as a lecturer he cooperates with the largest brokerages in Poland and in the world. Vice President of the FxCuffs Foundation – Education and Development of Financial Markets.

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