Looks like it could be an exciting day for price action trading. We have a strong potential for reversals to form on GBP/USD, EUR/USD, NZD/USD, and USD/JPY. All of these pairs are either on a support and resistance area, or very close to meeting one.
NZD/USD and USD/JPY in particular look primed for reversal trades for form.
Does this mean we will see reversals? No, definitely not. However, these are definitely pairs you want to be monitoring today. On USD/JPY I will be looking for bullish reversals from the 118.85, and on NZD/USD I will be looking for bearish reversals from the 0.6650.
Check out the analysis video below for more information on price action for today.
[youtube-banner]
How to use this price action analysis
If you are new to price action trading, have a look at my Forex trading strategy.
You can also browse through the countless hours of price action webinar recordings here.
My support and resistance areas
Check out my support and resistance areas here. These areas