• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course
  • Compare Brokers
    • MT4 Brokers
    • Paypal Brokers
    • Swap-Free Brokers
    • Forex Apps
    • Forex Trading Platforms
    • STP Brokers
    • MT5 Forex Brokers
    • Low Spread Brokers
    • Market Maker Brokers
    • Non Dealing Desk Brokers
    • Low Minimum Deposit Brokers

Weekly Price Action Trade Ideas – 26th to 30th Oct 2020

Johnathon Fox
10/26/2020 | UPDATED ON: 10/26/2020

Weekly Price Action Trade Ideas – 26th to 30th Oct 2020

Markets Discussed in This Week’s Trade Ideas: EURJPY, USDCAD, NZDUSD and UK100.

Note: We Use Correct ‘New York Close 5 Day Charts’ – You can read about why we use these and how to download the correct free charts at Correct Free New York Close Demo Charts

 

EURJPY Daily Chart

  • Daily Chart Bullish Engulfing Bar

Price action on the daily chart of this pair has now formed a bullish engulfing bar at a longer term support level.

If you zoom your daily chart out you will be able to see that this support level is a multi-year level going back into last year.

If price can now break the high of the engulfing bar we could look for price to move back higher and into the resistance around 124.97.

We could also then start watching for price to make a potential break of that level out higher.

Daily Chart

 

USDCAD Daily Chart

  • Price Has Moved Back Into Sideways Box

As we have discussed at length in recent times about this market; price is right back in the range that it was trading within a month ago.

As the daily chart shows; price was previously trading within a pretty clear box pattern and now once again we have a very similar box pattern playing out.

After forming a bullish pin bar at the range support level, price is looking to move back higher.

Whilst this box pattern continues to hold we can look to play both long and short trades at the key range support and resistance areas.

Daily Chart

 

NZDUSD Daily Chart

  • Minor Trouble Areas Everywhere

This pair looks increasingly tricky to trade at the moment.

Whilst in recent sessions we have had a nice move higher, there are minor support and resistance levels and ‘trouble' areas all over the place.

Price has just broken out higher through one of the trouble areas, but very close overhead it faces another test with another resistance coming into play.

Whilst this market could continue the momentum higher and make a play back into the extreme highs, the best play at the moment could be to look to other markets for trading opportunities.

Daily Chart

 

UK100 Daily Chart

  • Watching For Potential Breakout Lower

As I previously discussed about this market, I am looking for potential short trading opportunities and a potential breakout lower.

Price in recent sessions has formed a series of lower highs and each time it has rejected the major support the bounce or rejection has been a little weaker.

Last week price made a serious attempt at breaking lower, only to snap back higher.

This market will be on the close watch list this week for potential breakout trades through the key support level.

Daily Chart

 

Trade Ideas Note: All views, discussions and posts in the ‘charts in focus trade ideas’ are the view of Forex School Online and are not recommendations or trading advice. All posts are general in nature and are not advice to buy or sell.

Note: We Use Correct ‘New York Close 5 Day Charts’ – You can read about why we use these and how to download the correct free charts at Correct Free New York Close Demo Charts

 

Please leave questions or comments in the comments section below;

 

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$10

T&Cs Apply
  • Benefit from Low Spreads
  • 500:1 Leverage
  • MT4 & Webtrader
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « Weekly Price Action Trade Ideas – 19th to 23rd Oct 2020
Next Post: Weekly Price Action Trade Ideas – 2nd to 6th Nov 2020 »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$10

T&Cs Apply
  • Benefit from Low Spreads
  • 500:1 Leverage
  • MT4 & Webtrader
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!
X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Finixio Ltd, 2 Ferdinand Place, London, NW1 8EE business@finixio.com

Copyright © Forex School Online - Finixio Ltd Company no. 11705811 - Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US