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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
My company:
2ndSkiesForex
My blog:
2ndSkiesForex
My book:
Trading Price Action and Pivot Points
  • Weekly Forex Price Action Chart Outlook | Apr. 21 - 26 0 comments
    Apr 21, 2013 3:47 PM

    Hello Traders,

    A lot of really good setups to start the week in gold/silver, Euro and JPY pairs, along with indices as well - so expecting this to be a really interesting trading week.

    Wanted to comment on two today;

    EURUSD

    As stated on Thursday last week, the pair played out exactly as expected, popping up to the range high around 1.3121, forming a pin bar and then sold off about 70pips from there, so hopefully you profited from this as many of the forum members did.

    Any corrective pullbacks into the range high and pin bar (chart below) will likely offer a good intra-day sell signal targeting the range low. This is also forming a potential head and shoulders pattern on the 4hr, so could see a major break lower should 1.3000 fail to hold.

    (click to enlarge)

    [B]German Dax 30[/B]

    Showing signs that its rolling over, the Dax has one of its worst losing weeks in over a year, and is barely sitting above key support at 7460 which is a mutli-year support level (chart below).

    The major support at 7550 was broken last week, so ill look for corrective price action signals to short here as I'm expecting rallies to be sold for an eventual move lower.

    (click to enlarge)

    Kind Regards,

    Chris Capre

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