Forex price action analysis – May 27th 2015

Posted on

How to use this analysis

Unless you have used my price action strategy before, you should not use these support and resistance areas. If you want to know more about how I trade, check out my free price action strategy.

So, let’s get started with today’s analysis.

Key Support & Resistance Areas This Week

EUR/USD: Sellers have had a lot of fun with EUR/USD over the last week and a half. I am feeling like I should get back into break out trading. However, that probably wont happen for the time being. My key resistance areas for EUR/USD are the 1.0990 and the 1.1130. My key support areas are the 1.0870 and the 1.0740.

GBP/USD: This pair has been a good pair to trade over the last few weeks. It looks like it may continue to move nicely this week. My key resistance areas for GBP/USD this week are the 1.5510 and the 1.5660. My key support areas are the 1.5260 and the 1.5120.

GBP/AUD: This pair has been getting a little boring. There was a few months ago, GBP/AUD was giving me several trades per week, now, nothing. I haven’t given up on it yet though! So, my key support areas are the 1.9730 and the 1.9590. As for resistance, I have no viable resistance areas above the 1.9890.

USD/JPY: Sorry, I do not have anything for USD/JPY this week. I would not want to oppose that crazy bullish trend though.

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.