Yesterday session was spent rather quietly. Small confusion was caused only by data from USA, as well as from the UK. However, in comparison to the situation from the beginning of the week and at the end of the previous one, session was quite lazy. Let’s start the review of price action setups!
Price attacks resistance. Yesterday it ended with falls – at nigh we observed another failed attack which opened clear pin bar on the hourly chart. Such setup will be riskier than a clear formation on H4 or D1– but it has got little SL and large risk to profit ratio.
The next pair with Australian dollar under strong resistance. Here it is worth to wait for clear selling signal.
While almost all currency pairs with yen are raising, Canadian dollar is so weak, that it only rebounded from support zone. It seems, that searching buy-signals in this area will be rather risky. We recommend to wait for next wave of strengthening the Japanese currency which will bring the pair at the lowest levels since last half year.
Pound still remains strong. Friday sell-off and bearish engulfing did not cause a further downward trend. All the time however, the price cannot overcome the resistance level and we can look for selling signals in this area (e.g. H4 chart).