Welcome in the second part of Price Action Setups for the week beginning. You can find the first one here.

AUD/NZD:

A clear support break, which now converts into resistance. Search only for short positions, near that level after Price Action sell signals.

EUR/JPY:

Currency pair is unable to overtake the resistance. A large daily candle with long shadows – both from top and bottom – indicates a strong market indecision. Sentiment is still downward; as long as the price is below the 140.90-141.00 level. Therefore, you should only open short positions after sell signal.

GBP/CAD:

On Friday we saw a failed resistance challenge. The signal from the February 21 is still important and traders playing after 50% pin bar abolition should have open positions with SL above 1.8670. You can still look for sell signals. It must be remembered however, that the long-term trend is upward.

NZD/USD:

Kiwi attacked the resistance and retreated rapidly. At the moment there are no clear sell signals. However, you should look for them. Closing above 0.8410 will change the growth sentiment. For now however, the return to the broader scope of consolidation seems to be more likely.

USD/CHF:

USD to the CHF is at the lowest level since the end of 2011. Friday brought a break of key support. Now you need to look for sell signals – during challenge of that level from the bottom.

Leave us a comment!

Ransquawk