{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-2nd-to-6th-march-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-2nd-to-6th-march-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 2nd to 6th March 2020","name":"Weekly Price Action Trade Ideas \u2013 2nd to 6th March 2020","description":"Weekly Price Action Trade Ideas \u2013 2nd to 6th March 2020 Markets Discussed in This Week\u2019s Trade Ideas: USDCHF, EURGBP, AUDSGD and NZDJPY   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":"2020-03-02","dateModified":"2020-03-07","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\/03\/NZDJPYDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/03\/NZDJPYDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-2nd-to-6th-march-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":531,"articleBody":"Weekly Price Action Trade Ideas \u2013 2nd to 6th March 2020Markets Discussed in This Week\u2019s Trade Ideas: USDCHF, EURGBP, AUDSGD and NZDJPY 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 USDCHF Daily ChartCan Support Break?What a cracker of a week in the markets last week with a real mixed bag. The Euro pounded higher, the Aussie got smashed, the NZD broke out and Silver got crunched.Whilst the USDCHF also moved heavily lower it was one of the more sedate moves in comparison to some of the other moves we saw in some of the AUD, EUR and JPY pairs.As the daily chart shows below; price sold off last week into the major support level where price now sits looking to make a new test.If this level gives way, then it could spark similar price action that we are seeing in other markets and a lot of potential new trades.Daily Chart EURGBP Daily ChartOld Resistance \/ New Support?As mentioned above; most Euro pairs have climbed substantially in the last few days. This is the same on the EURGBP where we can see price has now broken an important resistance level.Whilst price action is hectic on these markets at the moment, if price can rotate lower and back into the old resistance it could look to hold as a new support.It could also be a solid area to watch for bullish setups on the daily and smaller time frames like the 4\/1 hr charts.Daily Chart AUDSGD Daily ChartWatching For Retrace Into ResistanceAs soon as the key support broke in this market it raced straight into the next major level and then beyond.As the daily chart shows below; price is now rotating back higher and the old support could act as a new resistance price flip level.This level looks like a key watch in the coming sessions on the daily and smaller time frames.Daily Chart NZDJPY Daily ChartHuge Breakout Plays OutThis is a market we have been waiting for a large push and breakout lower for some time (see previous trade ideas).Finally the price broke out and the sell off was aggressive. This is often the case after large periods of consolidation.Read how to play breakouts here.The momentum at this point is all lower and the best play until this changes looks to be waiting for any rotations higher for potential short setups.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;  "}