Market is boring those days. In fact, the only interesting event which occurred yesterday was UK data – they supported pound sterling and its volatility increased. Today, another important data at 10:30 (CET) which once again may result in larger movements. If we add to this that many currencies against GBP are near the key locations, it will clearly show that it is worth to observe this currency today. I invite you to potential price action setups review:
AUD/USD:
Aussie deepened declines yesterday and now is approaching a key support. The trend is still upward, so we should look for clear PA buy signals in this area.
EUR/JPY:
Yen appreciates, but a pair with EUR stuck at the support level. Monday brought false buy signal and pin-bar candle. Its minimum however, was deepened and long positions would end with a SL. Another signal should be better one.
GBP/AUD:
Another pair with Australian dollar approaches important level. It should be observed – look for sell signals due to the downtrend. The last upward movements is so strong however, that the Price Action signal must be clear.
NZD/JPY:
We might have a trend-changer on this cross. Support has been broken and now it should give a strong resistance. You can catch the trend and follow it if the couple goes back and test this level from the bottom.
USD/JPY:
Currency pair furiously defends the key support. Citi Bank says, that once again there is a 200DMA challenge, which always led to larger increases. Perhaps the same situation will occur now – and a little below there is another support. All this points to a rebound in any time soon.
