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GBPJPY just put in a 4 hour bullish pin bar off a key level. The daily chart is also at the very top of the upper range on the wedge that has been forming for the past 3 months (see daily chart below). We’ll have to see how the rest of the day plays out, […]Continue Reading
GBPJPY looks to have broken out of the wedge that’s been forming for the past 3 months. Because the breakout was not overly convincing, it can be somewhat subjective depending on where you have your lines drawn. The coming days should confirm whether this is a true breakout. If we look at the GBPJPY weekly chart, […]Continue Reading
The AUDUSD finished the day lower, forming a bearish pin bar on the daily chart. The next level of possible support looks to come in around the .922 level. This level is represented by the lows from late March / early April. Below this level, the .913 may prove as support. The pair is still […]Continue Reading
The AUDUSD was unable to hold support at the .93 level this week, closing below it on Wednesday. The pair also formed a bearish inside bar/pin bar combo on Friday. We could see this pair move down to the .922 level, which is represented by the price action from early April. The AUDUSD is still […]Continue Reading
From yesterday’s post I mentioned that the EURAUD may make a move to retest the 1.484 level in the coming days. Today we saw a decent move higher toward that level. We’ll have to watch to see if we get a price action setup at that level, should price make it there in the coming days. […]Continue Reading