Welcome on Friday, February 14 – for some it’s magical lovers day and for the others the day were many European soccer leagues kick off after winter break. But we won’t talk today about hearts, flowers and football players, but as usually as in the morning about the markets and trading signals generated thanks to Price Action technique. Let’s go:

AUD/JPY:

Yesterday the currency pair rejected the support and 21 EMA, but at night there was a downward correction. There were no clear price action signals for the purchase, so it’s still possible to find them. Recent momentum is upward and as long as price is above 91.00 one direction is valid: north.

AUD/NZD:

Price for that pair is also approaching the support zone. A clear buy signal from the H4 chart, event H1 may even allow to open longs. You can read about PA signal in the article: Price Action Formations: Pin Bar, Fakey, Inside Bar.

EUR/USD:                                                                                                                                                                   

We are still waiting here for the price attack on 1.3700 level. Only after it will reach that concrete level we will be able to tell what to expect from the most important currency pair in the nearest future. If Eurodollar won’t overtake the level then we should look for shorts positions and return to the support level. In the case of breakthrough look for long positions with re-challenge on 1.3700 – it will be the most reasonable solution. It is likely that today many will be revealed.

GBP/USD:

Cable is incredibly strong. I wrote about buy signal in the last week (February 6). 1.6600 was overtaken with a vengeance and now the price approached the last resistance level. As in the case of the EUR/USD it will be possible to open short positions (we must remember, however, that it is opposite to the very strong momentum) or play lung after reaching 1.6670.

USD/CAD:

Loonie promises a deeper correction, which should lead us to 1.0737 support. Now you should look for Price Action sell signals near the former support (currently resistance). This level will be strengthen by the presence of the 21 EMA.

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