Last week was Christmas week so I hope you had a great time. I spent mine with friends and family and I’ll be doing the same this week too. As was expected price movement very slow and it will likely be the same this week as we are still in the holiday season. My views…

At this time of year many people are winding down and looking forward to spending time with friends and family. The markets can have less liquidity and trading opportunities might be few. Some traders avoid trading at all at this time for those very reasons. Having said all that. There are some supply and demand…

AUDJPY is still good for shorts for the second week in a row. Last week in the members area I highlighted AJ for a short and the picture at the time looked like this:

AUDNZD – Short AN has broken the daily demand level identified previously and there are clear green candles below indicating a smooth path should price continue to fall. I’ll be watching for entry from the lower time frames as there already some potential supply levels to short from.

So last week we were looking at a number of Euro pairs and all rallied as expected. Whilst I didn’t manage to enter them all, I did get some Euro action. This week I’m watching a few Aussie pairs for longer term trades and the ones to watch are AJ and AN.

EURAUD – Long/Short Price has dropped down into a demand level in a very strong fashion. Last Friday say a drop over 300 pips. This is an area where price has already spent some time. If price breaks the demand level then there may be some shorts on as there’s profit potential below as well.

CADJPY – Short CJ is currently approaching a supply level formed back in 2008 and there has been a strong approach so far. I’ll be watching to see if there’s a reaction this week. There’s not as much profit potential on this one but it might still present a decent drop.

AUDJPY – Short AJ reached the daily supply identified last week and fell it feel a bit before retracing. Some of us in the members area went short for some pips but the expected big move hasn’t happened yet. We did see an engulf on the lower time frames so I’m still watching this one.

AUDJPY – Short Price rallied strong last towards the end of last week and is now heading for another supply level. If it continues up with clear green candles, I’ll be watching for a reversal.

AUDJPY – Short AJ returned to supply at the end of last week so I’m looking for  a potential short from this level should we see price action on the lower time frames. I already shorted this from a similar area a few weeks ago (seen here) but I’m quite happy to short it again…