Welcome in our daily price action setups preview. For today, we prepared four currency pairs – AUD/JPY, GBP/AUD, NZD/JPY and NZD/USD.
Currency pair fell in the vicinity of the support zone (it rebounded from it dynamically last Monday). It may be another opportunity to open long positions (trend following one). It is worth to look for price action purchase signals.
Another pair with Australian dollar – it also reached a spot, where price retraced previously. Many traders playing price action should have active short positions (on the 50% retracement of the Friday’s candle). Resistance level is strong – we could observe it during previous week, when it reacted dynamically. So in it is vicinity we can still look for short positioning opportunities.
Currency pair is still increasing and defeating another resistance. The last one in the vicinity of 88.20 also was punctured, and the previous correction ended in the same spot. Resistance becoming support looks to be confirmed and now we should look for price action signals (even on the lower TFs), to join ongoing trend.
Inside Bar setups is still forming. I wrote about it yesterday. You can find more about it here. Yesterday’s analysis is still valid. Worth to observe!