UK Data were yesterday the markets number one info – they changed sentiment on the most important currency pair with the pound sterling. Yen is also strenghtening which could result in the emergence of a few opportunities to enter the market. I invite you to today’s potential Price Action setups:
AUD/JPY:
Currency pair broke a key support and the bears should have advantage in the near-term. In the result, in the case of a strong PA sell signal, during the test of this level from the bottom, it will be possible to play short with TP on the next support around 94.00.
EUR/USD:
Eurodollar after rebounding from support during two growth sessions is now near the resistance, which seems to be quite strong. Sentiment is still downward, so in the case of a clear sell signal we can open short positions.
GBP/USD:
UK Data helped GBP and yesterday we saw a long, demand candle which clearly indicated the advantage of buyers. Test of the previous resistance (now support) will be an occasion for opening long positions and joining the uptrend.
NZD/USD:
The signal from last Wednesday still gives opportunities to make some money. A position with just 15 pips SL is now more than 160 pips in the positive territory and Kiwi broke through major resistance. It is worth to look for new long positions after correction from current level, which is now a support.
USD/CHF:
Very interesting situation on the cross – ongoing declines should be treated as a downward correction. They stopped at the support and now USD/CHF is slightly increasing. Buy signals at lower TFs can be used to open long positions in line with the current medium-term uptrend which is lasting from the last month.
