Welcome again after short pause! In the previous week we did not publish Price Action and Ichimoku analysis, but now we are back with our normal schedule! Many pairs acted as we expected. Other ones broke important resistance and support levels without clearer signals. Thus, we hope, that it was a good week.
AUD/JPY
Cross is in the middle of ongoing downward correction, which – taking into a count that we are in an uptrend – may give really good investment opportunity. If price falls to marked support area, it will be worth to look there for Price Action buy signals. Even on the lower TFs than D1 (however I am not a fan anything below H4).
EUR/CAD
Another currency pair in a clear trend, but during correction. Euro to Canadian dollar approached resistance area (September 3 maximum and triple bottom formation). Area violation ended with strong sale. We should look for selling signals here. In the case of lower resistance bound – on the daily chart and in the case of upper one – on the H4.
GBP/USD
Really interesting situation when it comes to Cable. Currency pair is in strong sell off second month in the row. The downside risk is escalated by Scottish independence referendum. However, GBP to USD was able to rebound a bit and stopped in the interesting place. It is an area of previous support and last week gap closure. If PA sell signal occurs here, then short position that follows clear downtrend, will be worth to consider.
