On Wednesday we have for You good setups on the EUR/JPY, AUD/NZD and GBP/AUD. First one will be the EUR/JPY, where the price is meeting a great horizontal resistance. It was a crucial support in the 2018 and after the flash crash is being now tested as a resistance. Today, we do have a second test, which can be a great selling opportunity, but for a proper signal we do need a bearish price action first. Once we will get it, this can be an amazing opportunity with a proper risk to reward ratio.
Second one is the AUD/NZD, where the price is close to create a false breakout pattern. False breakout above the horizontal resistance and the lower line of the giant symmetric triangle pattern. Price closing a day below the green area will be a super strong long-term sell signal.
Last one is the GBP/AUD, where we do have a third head and shoulders pattern in a row. This pair is showing a great respect to this formation so we can assume that it will work again. Especially, that the price already broke the neckline and positively tested that as a closest resistance. Chances for a further drop are very high.