GA And GJ Hit Supply, Possible Longs on Some Euros

We saw some strong moves in the markets last week and we’re looking to capitalize on them this week since a number of pairs have reached key levels. Once again it’s mainly pound and euro pairs this week so check them out below:

EURGBP – Long

Price is heading down to a daily supply level which is also a QM level. We’ve got red candles on the way so far so if that continues then I’ll be looking for a potential long trade from there.

2015-05-10 EG Long D1 EURNZD – Long

EN has created a demand level with a very strong move away. Price rallied over 900 pips from the zone so it’s definitely one to watch.

2015-05-10 EN Long D1

EURUSD – Short

The closest level on EU at the moment is still the supply level mentioned previously. If we see green candles going into the level, we’ll take a closer look for a short.

2015-05-10 EU Short D1

GBPAUD – Short

After the great long trade we had last week, price has reached supply and is already falling away so this week we’re on for shorts.

2015-05-10 GA Short D1

GBPJPY – Short

GJ has rallied to a supply level highlighted a few weeks ago and has done so with green candles only. If we see PA that meets the rules then we’ll be short on this one too.

2015-05-10 GJ Short D1

USDCAD – Short

USDCAD looks set to continue to fall and if it does so with pure red candles then I’ll be looking for a long from the demand level below:

2015-05-10 UC Long D1

USDCHF – Short

USDCHF has been rallying and is heading towards supply which is also a swap zone. If it continues the rally with green candles only then we could have a short.

2015-05-10 USDCHF Short D1

Video

Detailed Analysis

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