Forex price action analysis – June 10th 2015

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How to use this price action analysis

The levels below are support and resistance area, I use these areas to trade reversals, if the appropriate set up forms. If you are new to price action trading, and to my strategy, you should check out my guide to my free price action strategy.

Key Support & Resistance Areas This Week

EUR/USD: I am not trading EUR pairs at the moment. Me and other forum members have been burnt several times in the last fortnight. We enter EUR trades, news comes out about Greece, and the euro goes flying up or down. The erratic movements are too much of a headache. However, for those of you who still want to trade, I have some fresh support and resistance areas…

… My key resistance areas for EUR/USD are 1.1450, and 1.1280. My key support areas are 1.1110, and 1.0995.

GBP/USD: My key resistance areas for GBP/USD this week are 1.5660, and 1.5565. My key support areas are 1.5460, and 1.5350. GBP/USD has been producing some nice trades lately, so keep a close eye on it.

GBP/AUD: My key support areas are 1.9890, and 1.9730. As for resistance, I have no viable resistance areas above the 1.9890. The 2.0000 area is a possibility but I want to see more proof before I place resistance there.

USD/JPY: Sorry, I do not have anything for USD/JPY this week. That reversal on June 5th though, if it was not NFP day, that would have been an amazing trade.

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


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