{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-3rd-to-7th-feb-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-3rd-to-7th-feb-2020\/","headline":"Weekly Price Action Trade Ideas \u2013 3rd to 7th Feb 2020","name":"Weekly Price Action Trade Ideas \u2013 3rd to 7th Feb 2020","description":"Weekly Price Action Trade Ideas \u2013 3rd to 7th Feb 2020 Markets Discussed in This Week\u2019s Trade Ideas:\u00a0GBPUSD, USDCHF, EURAUD and AUDUSD.   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 […]","datePublished":"2020-02-03","dateModified":"2020-02-03","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\/02\/USDCHFDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/02\/USDCHFDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-3rd-to-7th-feb-2020\/","about":["charts","Price Action Charts in Focus"],"wordCount":590,"articleBody":"Weekly Price Action Trade Ideas \u2013 3rd to 7th Feb 2020Markets Discussed in This Week\u2019s Trade Ideas:\u00a0GBPUSD, USDCHF, EURAUD and AUDUSD. 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 GBPUSD Daily ChartInside Bar + Engulfing Bar Combo Holds SupportIn last week\u2019s trade ideas we discussed the major daily support level and if it was going to be able to hold. We had been seeing weaker rejections each time the support was being tested.The price action clues were crucial in this market. Price was not able to make a solid break and close below the daily support. Instead, it first formed an inside bar and followed that up with a clear-cut bullish engulfing bar to sent prices back higher.If price can clear the swing high as shown on the daily chart below, then the extreme daily chart high could quickly come into play.Daily Chart USDCHF Daily ChartClean Bearish Pin BarPrice action on the daily chart of the USDCHF has now sold off lower after forming a very solid pin bar reversal at the recent swing high resistance.The short term momentum in this pair has been lower in recent times and this pin bar was at the swing high where price made its last sell off lower.Price is now retesting the swing low and where it most recently found support.This looks to be a key level for the upcoming sessions. If we get a break, then it could give way to lower prices and potential short trades.Daily Chart EURAUD Daily and 4 Hour ChartsWatching for Any Weakness After BreakoutPrice has now successfully broken out of the major daily resistance level that we were watching closely last week for a potential breakout.This was a large and aggressive breakout with price forming two huge daily candles after price confirmed the break.This is common when price breaks out of such a key support or resistance level.\u00a0As the 4 hour chart shows below; we have a minor price flip level that could act as a new support for the move to potentially continue should we get any rotations lower.Daily Chart4 Hour Chart AUDUSD Daily ChartMajor Support Now Comes Into PlayPrice on the Aussie has been hammered lower in recent times and as the daily chart shows below the major daily chart support could come into play in the next few sessions.We have not seen a pullback or rotation higher for some time and it would not surprise to see price at least pause at this support level.Super aggressive counter trend traders could watch for potential bullish price action clues. Trend and momentum traders could watch this level for a potential break and continuation of the recent sell off and for new short trades to eventuate.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; "}