Welcome in today’s PA setups review. For today we prepared five most interesting currency pairs – AUD/NZD, EUR/USD, EUR/USD, GBP/JPY, GBP/USD.

AUD/NZD:

Currency pair rebounded from key support and formed a candle with long lower wick, which yesterday could be used to open long position (on 50% of its abolition). However, there was a lack of clear PA purchase signal – so we can wait for the price to approach that level once again and after that look for the signals.

EUR/UAD:

Similarly to the pair with New Zealand dollar, important resistance level was tested, but there is a lack of clear signal. The last maximum may be corrected and approach the vicinity of upper limit of the prior support (now resistance). Then we should look for sale signals on the lower timeframes.

EUR/USD:

Euro to USD is approaching slowly to key resistance zone, which has been stopping upticks since last month (earlier it acted as support). If sell signal occurs, it will be worthy to go with the trend and open short positions.

GBP/JPY:

Cross closed yesterday above the key resistance – it is the highest level since the year beginning. Price on the lower intervals consolidates just above that very level which confirms, that further increases are still possible. Short positioning is not a good idea now – we should look for buy occasions.

GBP/USD

Cable also broke a important high and confirmed a uptrend on pound sterling. If correction testing the earlier resistance from the top (which now should act as support) occurs, we will be able to look for purchase positions (of course after price action buy signal).

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