Guest post Price action medium-term trading analysis for EURUSD, AUDUSD, GBPUSD, USDJPY.
EURUSD
Euro is still in no man’s land but from a PA technical perspective, we may see Tree Inside Down signal from a falling trend line. Now, everything would be nice if that signal has formed in clear bearish trend and bearish context. The context we’re looking now is very choppy and may turn very easily in either direction. So, stay aside, or, if you wish, trade this signal as sell limit from 50% signal body entry point and that would be somewhere around 1.1360. I am out of it.
AUDUSD
Aussie is still in the downward channel with no clear bullish or bearish momentum. Chart looks pretty choppy so the rule for that condition is: stay out of it.
GBPUSD
British Pound shows some bullish momentum but with great fundamental risks in sense of possible Black Swan occurrence regarding Brexit turmoil. The bullish outside bar I mentioned last week is still holding price above but, from my perspective, trading this pair at this moment is gambling.
USDJPY
Here we can see that the support area around 110 didn’t hold it and price broke lower. Observing closely bearish candles from more than a few aspects I can say that we may see some more bearish momentum in weeks ahead. Still on the sidelines with no buying recommendations at this point.
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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