Forex price action analysis – April 21st 2015

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I took a bit of a break again last week, this time it was for my birthday. April tends to be a busy month for me so I do not get much trading done. However, I am back for two weeks before I set off to Belgium in early May.

So, let’s dig in to this weeks analysis and see what has changed.

Key Support & Resistance Areas This Week

GBP/AUD: GBP/AUD just keeps on giving us great trades. Make a point of monitoring support and resistance areas on GBP/AUD, if you want to catch reversal trades. My key support areas for GBP/AUD are the 1.9225, and the 1.9080. My key resistance areas are the 1.9340, and the 1.9460.

EUR/USD: Support and resistance is still messy on EUR/USD. With the price of EUR/USD dancing around 12 year lows, it is hard to place good support and resistance areas. However, the longer price stays at these lows, the clearer support and resistance becomes. This week, my key support areas for EUR/USD are the 1.0670, and the 1.0560. My key resistance areas are the 1.0830, and the 1.0990.

GBP/USD: GBP/USD is being as consistent as ever. While the pair does not give many trades, it is predictable, and reliable. My key areas for GBP/USD are the same as my last analysis, support is at the 1.4850, and the 1.4755. My resistance areas are the 1.4960, and the 1.5040.

USD/JPY: As you probably know, I am not a big fan of USD/JPY, so, I probably won’t be trading this pair myself. My analysis for USD/JPY is just for you guys, as I know many of you like to trade it. My key support areas for are the 119.00, and the 118.40. My key resistance areas are the 119.70, and the 120.25.

AUD/USD: My key support areas for AUD/USD are the 0.7705, and the 0.7630. My key resistance areas for AUD/USD are the 0.7760, and the 0.7830.

Questions

If you have any questions please ask below, I try to answer every question.