Let’s start with today’s Price Action setups review. We are analyzing situation on biggest currency pair before the end of global exchanges session before the weekend:
AUD/NZD:
Friday candle gave a clear sell signal. Rebound from the resistance and 21 EMA, also clear pin bar. All that causes that we may consider opening shorts already on market opening.
EUR/USD D1:
Currency pair broke the maximum from December, however rejecting it expressly. Friday’s candle is not a unequivocal sell signal. If the candle closed few pips below, the situation would be different.
EUR/USD H4:
We see another situation on H4 chart. A clear downward candle and another which are containing in the first one. Breakout below will give a sell signal. Traders who want to risk more may open shorts after 50% of its abolition.
GBP/CAD:
Another attack on resistance. On Thursday, price rebounded from 21 EMA creating a pin bar. This makes that we should cautiously walk up to the prospect of opening shorts in the event of sell signal occurrence.
NZD/JPY:
Price came to the key resistance and rejected it. Momentum is upward, but the end of the session do not give optimistic forecasts and may lead to a correction.
USD/CHF:
The currency pair is in a dynamic downward trend. Friday’s closure is in the lowest position since 2011, still deepening the one from end of February. Weekly candle has a long upper wick and closure around the minimum. Worth to look for shorts in case of any upward adjustments.
