Daily Price Action

Price Action Setups – AUDUSD, EURAUD and GBPJPY


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 looking fairly constructive in the short to mid term, however we are still making lower highs and lower lows in the longer-term.

audusd daily price action chart

The EURAUD finished today with a bullish pin bar on the daily chart. The next level of resistance looks to come in around the 1.5 level. The moving averages also crossed over to the upside today. Scroll down to see an interesting view of the EURAUD weekly chart.

euraud daily chart

EURAUD weekly chart. Although the pair is trending lower on the daily time frame, it’s still very much in a longer-term uptrend.

euraud weekly price action chart

The GBPJPY has been forming a wedge on the daily chart since February of this year. A breakout is just around the corner. The question becomes, which way will it go? We’ll have to wait and see. But because the pair has been in such a strong uptrend, a break to the upside would be the most constructive for a trade setup.

gbpjpy daily chart

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