Hello Price Action Traders.
During the past week eur/usd consolidated between 1.3000 and 1.3140 without making very incisive moves . The week closed slightly above 1.3100 forming one of my forex trading signals. The Bullish breakout of 1.3140 could take price to 1.3300 area, the next real important resistance zone.
Usd/Jpy breaks previous week highs with a big upward gap and goes to close the week at 98.40 not closing the gap and not forming any clear price action trading signal of my trading method. For this market I will wait for the closure of “price gap” and one of my trading signals at 96.20/96.00 area to try and get into the possible resumption of this strong trend.
Eur/Cad closed the week without any gain or loss consolidating between 1.3300 and 1.3200. Well then, because all this results in the formation of one of my price action trading signal. At this point you can expect the bullish breakout of previous highs and go to the next resistance zone, if you want to trade this market you can look for a nice risk:reward profile.
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