{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-12th-to-16th-of-august\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-12th-to-16th-of-august\/","headline":"Weekly Price Action Trade Ideas \u2013  12th to 16th of August","name":"Weekly Price Action Trade Ideas \u2013  12th to 16th of August","description":"Weekly Price Action Trade Ideas \u2013 12th to 16th of August Markets Discussed in This Week\u2019s Trade Ideas: EURUSD, GBPAUD, GBPCAD and CHFJPY.   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":"2019-08-12","dateModified":"2019-08-12","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\/2019\/08\/EURUSD-Daily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2019\/08\/EURUSD-Daily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-12th-to-16th-of-august\/","about":["charts","Price Action Charts in Focus"],"wordCount":535,"articleBody":"Weekly Price Action Trade Ideas \u2013 12th to 16th of AugustMarkets Discussed in This Week\u2019s Trade Ideas: EURUSD, GBPAUD, GBPCAD and CHFJPY. 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 ChartNot Much Happening With Price ActionPrice action on the EURUSD daily chart is in pedestrian mode at the moment. We have formed more inside bars on the daily chart, but this is quite common when price is not going anywhere and is chopping back and forth.In our last commentary we discussed the inside bars and the possibility for a break lower. Whilst price did break and move directly into the next support, it did not open the way for any free flowing price action and the sideways range has resumed.This is not a market I am watching particularly closely just at the minute as price is just meandering along sideways. By all means; it is not wrong to look for trades, I am just personally watching other markets more closely.Daily Chart CHFJPY Daily ChartCan Price Break Lower?This is another market stuck in a sideways range with fairly clear levels.The support level is a solid level that has been respected on multiple occasions, but the last rejection was fairly weak.If this level can give way it could open the door for an aggressive move lower with potential short trades including breakouts and breakout and quick retest setups.Daily Chart GBPAUD Daily and 4 Hour ChartsFalse Break Sends Price Into SupportWhilst there is no clear trend just at the moment on the GBPAUD, price is still making decent moves and respecting its major levels.As we can see on the charts below; price recently popped higher and created a large false break to sell off lower.Price is now rotating into the support level. This could present with multiple potential setups, keeping in mind that price is not in a strong trend in either direction.If the bulls hold at the support, then trades similar to the bearish false break could be hunted looking for a potential A+ bullish false break.If price breaks lower, then it could quickly gain steam and open possible short trades.Daily Chart4 Hour Chart GBPCAD Daily and 4 Hour ChartsPrice Action Stepping LowerLike many GBP pairs, the GBPCAD has been trending lower in an obvious move.As the daily chart shows below; price is \u2018stepping\u2019 lower with lower highs and lower lows.This has the potential to repeat with price looking to step lower once again. Price action traders could watch the recent support level to see if it holds as a new resistance for the next leg lower.Daily Chart4 Hour Chart Trade Ideas Note:\u00a0All views, discussions and posts in the \u2018charts in focus\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. Please leave questions or comments in the comments section below; "}