USDJPY, EURUSD & GBPUSD, Oct 17th – 21st, 2022 » Learn To Trade The Market

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USDJPY – SPOT: Buying On Retracement And After Price Action Signal Above 141.49 Support Level

Price Action: Price exploded higher from the ultra-small Bullish Pin Bar Signal that had formed on Friday, Oct 7th (We suggested buying on a breakout higher of the nose of this Signal in the Oct 10th, members weekly newsletter).

Potential Trade Idea: We are considering buying on a retracement lower and after a price action signal, whilst price remains above the 143.49 short-term support level, which concedes with the recent ultra-small Bullish Pin Bar Signal that had formed on Friday, Oct 7th.

NOTE – You can trade Spot USDJPY via the trading platform we use HERE.

EURUSD – SPOT: Selling On Retracement And After Price Action Signal Below 0.9998 – 1.0051 Resistance Area

Price Action: Price moved briefly higher from the Bullish Tailed Bar Signal that had formed late last week (We did not consider trading this signal).

Potential Trade Idea: We are considering selling on a retracement higher and after a price action sell signal, whilst price remains under the 0.9998 – 1.0051 short-term resistance area, which concedes with the recent Bearish Multi-Bar Fakey Setup that had triggered on Wednesday, Sep 21st (Currently Active).

NOTE – You can trade Spot EURUSD via the trading platform we use HERE.

GBPUSD – SPOT: Waiting For A Potential Bearish Fakey Setup

Price Action: Price formed an Inside Bar Pattern late last week (We are not considering trading this pattern).

The recent Bearish Pin Bar Signal that had formed early last week failed (We did not consider trading this signal).

Potential Trade Idea: We are considering waiting to see if the current Inside Bar Pattern turns into a Potential Bearish Fakey Setup.

NOTE – You can trade Spot GBPUSD via the trading platform we use HERE.

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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.