9 Free Forex Trading Signals For June 12 – June 16 2017
How did these setups play out?
Price action was not condusive to easy trading but a potential 365 pips were available
AUDCAD – Price collapsed through our downward trend line but as mentioned previously, horizontal support and resistance zones are where price will usually seek. Double bottom long for 140 pips.
AUDCHF – I’ve talked about basing above support or below resistance and how that sets up a break of S/R. Price broke resistance after basing for 95 pips
AUDUSD – Price didn’t have a deep pullback to work off the 192 pip move from the last week. However, a high flag at the top of a momentum thrust is another bullish sign. Price broke to the upside. Not counting the pip count for this potential trade as it would have been a difficult one to enter and previous price action of individual candlesticks did not give a trade indication.
CHFJPY – Trend line break, immediate rejection and then pivot candlestick. Nothing worth mentioning.
EURUSD – Early price action was slow and we did get the drop and bounce at the trend line the last 2 days of the week. Astute traders may have caught the spike on June 14 for a short trade intra-day. For swing traders….nothing.
GBPAUD – Price stayed below the lower side of the channel and simply ranged.
NZDCAD – Resistance held and price broke strong for 130 pips.
NZDCHF – Upside pop that was noted happened but price held at resistance. No trade.
NZDJPY – Resistance break but not convinicing. No reversal occurred. No trade.