Weekly Forex Trading Commentary - Sunday 30th March 2014

AUD/JPY - Price Clears Key Resistance, Strong Uptrend Kicking Off

The strength in this market shows that AUD is bullish across the board. Price pushed above 94.00 key resistance last week and we will be looking out for a price action buy signal after a retracement next week.

GBP/JPY - Price Explodes Higher From Key Support

This pair finally exploded higher on Friday as we predicted in our market commentary a few days ago. This pair may drift back up to retest key resistance near 172.90 next week where we will look out for a bearish price action sell signal to trade any potential move back down to support.

EUR/JPY - Bullish Price Action False Break / Outside Bar From Key Support

The EUR/JPY produced a bullish price action false-break of key support on Friday and printed a very large outside bar. We may see a small dip back to around the 141.00 level next week before the market proceeds to push higher. There is no key resistance until around 144.00 so we would not be surprised to a larger move higher from here over the days / weeks to come.

Gold - Retracement Back To EMAs Overdue, 1310-20 Looks Good For Price Action Short Setup

Gold kept selling off towards the end of last week. 1310-20 looks like a good level to look for a price action sell signals to join the selling in this market, so we will wait for a move back to here next week before acting here...

Hang Seng Index - Price Sitting Right Below Key Resistance, Look Out For Price Action False Break / Pin Bar

Price is sitting right below key resistance on this index and we will wait and see if we get a price action false-break or pin bar from this level next week before looking to trade a move to the downside. Alternatively price may keep pushing higher in which case we would revise our outlook to bullish.

This price action trading commentary is published by Lewis Barber and represents his current view of the forex market.

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