Forex Trade Signals and Setups Dec. 15th

AUDUSD – Looking Tentative

After getting hammered for the last 7 days, the Aussie has formed a decent price action bounce off the .9879 swing lows which you can see was a key level in the chart below acting both as support and resistance for the prior swing moves.  The back-to-back 4hr rejection off this level had some initial gusto, but failed at the 20ema which means sellers either got back in or added new shorts at the moving average pullback.

price action forex chris capre

Short term bears have their line in the sand both for upside rallies and for further confirmation the trend will or will not continue should it break the swing lows sub .9875.  Bulls may take some positions here and any break + close above the 20ema will inspire confidence in them.

One thing to consider is with institutions pulling out of the market and volumes getting lower, it’s possible this +USD movements have been institutions scaling back their EUR holdings not wanting to be long going into the holidays for fear of further problems in the eurozone not being handled until after the new year, thus not wanting to be caught long, therefore exiting existing longs giving the USD a short term boost. Food for thought.

Remember to leave us your comments which are always appreciated, and also to click the ‘Like’ and ‘Tweet’ buttons below to share it.

For those of you looking to trade price action, make sure to visit our Advanced Price Action Course where we teach rule-based systems for trading Price Action.

Take a look at our newest article on 3 Tools to Improve Your Trading.


Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article