How to use this price action analysis
If you are new to price action trading, have a look at my Forex trading strategy.
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Key Support & Resistance Areas This Week
EUR/USD: Again, I am going to stay away from the Euro this week. My risk assessments tell me that it is simply not worth trading Euro with the Greek crisis looming overhead. If you personally feel like it is worth the risk, here are my key areas:
My key resistance areas for EUR/USD are still 1.1150, and 1.1270. My key support areas are 1.1005, and 1.0830.
There is actually a trade from the 1.1005 support area at the moment. It had already triggered but I am not trading it. Anybody enter this one?
GBP/USD: My key resistance areas for GBP/USD this week are 1.5560, and 1.5660. My key support areas are 1.5460, and 1.5350.
USD/JPY: Key resistance is 123.45, and 124.60. My key support areas are 122.60 and 121.50 for USD/JPY. I am currently in a short reversal from the 123.45 area.
AUD/USD: AUD/USD is at six year lows which means I have no areas for it at the moment.
USD/CAD: My key resistance is 1.2770. My key support is at 1.2630, and 1.2520.
Questions
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