{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-19th-may-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-19th-may-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 19th May 2020","name":"Weekly Price Action Trade Ideas \u2013 19th May 2020","description":"Weekly Price Action Trade Ideas \u2013 19th May 2020 Markets Discussed in This Week\u2019s Trade Ideas: USDCAD, GBPUSD, EURAUD and GBPCHF.   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 […]","datePublished":"2020-05-19","dateModified":"2020-05-19","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\/GBPCHFDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/05\/GBPCHFDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-19th-may-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":488,"articleBody":"Weekly Price Action Trade Ideas \u2013 19th May 2020Markets Discussed in This Week\u2019s Trade Ideas: USDCAD, GBPUSD, EURAUD and GBPCHF. 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 USDCAD Daily ChartPrice Action SqueezePrice on the USDCAD is in a tight box range.As the daily chart shows below a squeeze is currently taking place with lower highs and higher lows.The best plan in this market could be to watch for this box and squeeze to break and then hunt for potential breakout trades on either the daily or smaller time frames.Daily Chart GBPCHF Daily ChartPrice Moving into SupportAfter trying to breakout higher and then failing, price formed a bearish pin bar.We can see price has since sold off and is looking to move into the near term support level.If price does move lower into this support it could prove an important level to keep an eye on. Bullish price action could signal the potential to enter long trades. Failure and a break lower would open up a lot of space to fall into.Daily Chart GBPUSD Daily and 4 Hour ChartsSupport Breaks With RetestLast week we looked at this market and the higher lows price was beginning to form.In the sessions since price moved lower to test the key support level and finally finished with a solid breakout.As the daily and 4 hour charts show below since the breakout price has quickly reversed and is looking to test the old support level.This week will be very interesting to see if this level can hold as an old support and new resistance level for a potentially new leg lower.Daily Chart4 Hour Chart EURAUD Daily ChartDouble Bottom FormsLast week price tested the important support level that had also previously acted as a resistance level. At this level we saw a double bottom form.After this pop higher there was little follow through and we have since seen price stall.There are some tricky minor resistance levels overhead for this market.For any serious move higher these minor levels would have to be taken out and are levels to keep in mind in the coming sessions.Daily 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; "}