Guest post Price action medium-term trading analysis for EURUSD, AUDUSD, EURJPY, USDJPY.
EURUSD
EURUSD is still in no man’s land with bearish pressure BUT no continuation of that trend. Stay aside and be prepared for possible bullish strikes caused by liquidations of big bank’s short positions or some short-term good news for Eurozone.
AUDUSD
Aussie is in a range to bearish consolidation in a small downward channel. In this low volatility conditions, we may expect suddenly volatility spikes but without clear direction. My advice here would be NOT to trade breakouts, just clear PA signals from well-defined chart levels.
EURJPY
EURJPY is in a similar situation as AUDUSD and other currencies and that is -low volatility and choppy conditions. We will watch for eventual PA signals from daily bearish trend-line on this pair. Also, I have prepared for you a monthly chart for this pair and you can see that we have a great buying pin bar from the multi-year trend line. So, be on the sidelines and watch for the eventual changing context of the market from bearish to bullish, or, to another test of 119 area and PA signal from that area.
USDJPY
USDJPY is in a little low-volatility bullish wave but nothing worth interacting with the market financially. I personally, from the fundamental aspect of view, expect that USD will lose momentum for some time and that we will see a short-term rebound.
For now, stay aside and follow me on Twitter @accounts_forex.Good Luck!
Darko has over 4 years of experience with the Price action trading, 6 years trading part-time. Tradingview handle DARKO551
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