{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-11th-to-15th-may-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-11th-to-15th-may-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 11th to 15th May 2020","name":"Weekly Price Action Trade Ideas \u2013 11th to 15th May 2020","description":"Weekly Price Action Trade Ideas \u2013 11th to 15th May 2020 Markets Discussed in This Week\u2019s Trade Ideas: EURUSD, EURAUD, GBPUSD and GOLD.   Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close […]","datePublished":"2020-05-11","dateModified":"2020-05-11","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"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.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/05\/XAUUSDDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/05\/XAUUSDDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-11th-to-15th-may-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":557,"articleBody":"Weekly Price Action Trade Ideas \u2013 11th to 15th May 2020Markets Discussed in This Week\u2019s Trade Ideas: EURUSD, EURAUD, GBPUSD and GOLD. Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo Charts EURUSD Daily ChartPrice Sells Back Lower Into RangeIn last week\u2019s trade ideas we looked at this market and the range that price had been trading within.This range continues to hold with price once again selling off from the daily resistance level.We can see on the chart below that price is now looking to test the support of the range level.These types of markets offer multiple trading opportunities. Range trades can be hunted if the price action shows the range is looking to hold. If however the range breaks, then breakout trades can be played on the smaller time frames.Daily Chart GBPUSD Daily ChartHigher Lows FormingThis is an interesting pair and is showing price action that we are seeing in many markets at the moment.After large spikes in the volatility, price has calmed down and in many pairs it is either consolidating or moving sideways.This is what we are seeing on the GBPUSD with a series of higher lows.This could be indicating bullish momentum picking up with a new test of the overhead resistance level becoming a potential breakout zone.Daily Chart EURAUD Daily ChartPrice Sitting on SupportLast week we looked at the weekly pin bar this pair formed and the tricky area it was trading directly into that it would need to break for any move higher.After popping higher only momentarily the price sold off lower and is now sitting on what looks to be a crucial support level.This daily level has acted as both a proven support and resistance level in the past and looks important for where price makes its next major move. This level also looks a major watch over the coming sessions for price action clues.Daily Chart GOLD Weekly and Daily ChartPin Bar + Inside Bars\u00a0Since Gold formed a weekly pin bar there has been little price action in either direction.We saw a minor move lower before a retrace back higher. Since then price has formed back-to-back inside bars. As the daily chart shows more clearly; price is in a tight box moving sideways.For any serious move lower to occur a break below the 1660 would need to happen and the box to be broken.If the move higher continues and the weekly pin bars high is taken out we could then see a new extended leg with the trend higher.Weekly ChartDaily Chart Trade Ideas Note: All views, discussions and posts in the \u2018charts in focus trade ideas\u2019 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:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo Charts Please leave questions or comments in the comments section below; "}