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The British Pound was finally able to close above the 1.68 level today. Although there’s no real price action for us to trade, we can look for a retrace into support for a price action buy signal. Let’s see what we get the rest of this week. The GBPAUD is trying to recover from recent lows. […]Continue Reading
Not a lot of price action today. However, the AUDNZD is still range bound as it’s capped by the 1.09 level. A break to the upside may provide quite a bit of room to run. We might see some price action this week that would indicate whether the AUDNZD is ready to break this range, or […]Continue Reading
AUDUSD pulled back last week from recent highs. If the pair is to continue higher, I would expect immediate support in the .93 area. A price action buy signal such as a pin bar from this level would create an interesting setup. As always, we’ll have to remain patient and watch how the market unfolds. […]Continue Reading
GBPJPY put in a daily pin bar off the bottom of a wedge that’s been forming since last year. The pair also managed a pin bar on the 4 hour chart, which I posted earlier. If the pair can maintain this wedge formation we may see price test the upper boundary around 172,50. Immediate resistance […]Continue Reading
Nice price action setup forming on the GBPJPY 4 hour chart. The pair has been forming a wedge on the daily chart since October 2013. We’ll see how the day closes, but the 4 hour chart is looking quite bullish after forming the pin bar off of the wedge bottom (second chart below). GBPJPY pin […]Continue Reading