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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.
Key Support & Resistance Areas This Week
EUR/USD: I am not trading Euro pairs this week. There is too much drama with Greece at the moment. I do not like trading with unexpected, high impact news, looming over my trades. If you want to trade EUR/USD though, here is some quick analysis for you.
My key resistance areas for EUR/USD are still 1.1450, and 1.1280. My key support areas are 1.1110, and 1.0985.
GBP/USD: My key resistance areas for GBP/USD this week are 1.5660, and 1.5775. My key support areas are 1.5565, and 1.5460. I would keep a close eye on this pair, it has provided some great trades recently.
GBP/AUD: My key support areas are 2.0020, and 1.9880. I only have one resistance area for GBP/AUD, the 2.0150, and it has already given us a trade this week. The 2.0150 is one to watch. Price is making a second attempt right now, and it is stalling.
USD/JPY: Key resistance is 123.70, and 124.70; my key support is 122.60 for USD/JPY.
AUD/USD: As discussed in the video, my key resistance is 0.7760, and 0.7830. My key support is at 0.7680, and 0.7610.
USD/CAD: As discussed in the video, my key resistance is 1.2400, and 1.2520. My key support is at 1.2260, and 1.2135.
Questions
If you have any questions please ask below, I try to answer every question.