From the fundamentals side, yesterday did not bring any key information, but many pairs are now on interesting levels, on which you can open positions, hence we have seven of them in today’s review. The Australian dollar is getting stronger and we can see there much bigger trends. Here we go:
AUD/JPY:
Cross broke the key resistance level and during the night there was a re-test of it. A pin bar formed on the H4 chart, which despite the fact that the price has already run away, can be traded traditionally in three ways:
-Buy Limit on the maximum with the Stop Loss below the minimum,
– Buy Limit on the maximum with the Sop Loss below the 50% of the candle’s abolition,
– Buy Limit on the 50% of the candle’s abolition with the Stop Loss below the minimum.
AUD/NZD:
Australian dollar against the New Zealand one failed to break an important resistance and now we can see a dynamic correction. It is worth to observe the support level around 1.0630, because PA buy signal will confirm the upward trend and an opportunity to open long positions.
EUR/AUD:
Important support has been broken and now the correction with its re-test from the bottom will be an opportunity to go short – in accordance with the dynamic downward trend.
EUR/CAD:
Cross reached the support and price action here will be the key factor. If the rebound occurs, we will be able to open long positions in accordance with the trend after the Price Action buy signal. Breaking it will change the situation – after that going short after level test from the bottom will be advised.
EUR/JPY:
Long defended minimums were broken yesterday and after that we observed a dynamic growth which created trap for bears. If there is a buy signal, you can go north and open long positions after false break in accordance with the current, upward trend.
GBP/CHF:
Also on the GBP against CHF we saw a challenge of important level. Sell signal will be an occasion to open short positions.
GBP/USD:
And the Cable for the end of today’s review. We have analogical situation here. Additionally, the price rebounded from 21 daily EMA which is strengthening this current level.
