Submitted Feb 6, 2023|From dailypriceaction.com

Last week saw the USD strengthen significantly following the deviation from the US Dollar Index (DXY) at 101.50. I mentioned this in Saturday’s Weekly Forex Forecast video. The DXY is testing the 103.50 confluence of resistance today, a significant ...

Submitted Jan 30, 2023|From dailypriceaction.com|1 comment

USDCAD is testing a significant support level ahead of Wednesday’s federal funds rate and press conference. We know that the Federal Open Market Committee (FOMC) rate decision and subsequent press conference trigger volatility for currencies. So ...

Submitted Jan 28, 2023|From dailypriceaction.com

Today’s weekly Forex forecast covers the EURUSD, GBPUSD, USDJPY, AUDUSD, and XAUUSD (gold). Markets have some key decisions to make this week, including a terminal pattern on USDJPY and a potentially significant AUDUSD monthly close. video GBPUSD ...

Submitted Jan 23, 2023|From dailypriceaction.com

USDJPY is surging early this week and testing 130.60 resistance for the third time. That’s the confluence of resistance I mentioned in Saturday’s forecast video. It’s also the area USDJPY bulls need to break to expose higher levels like 134.50 and ...

Submitted Jan 18, 2023|From dailypriceaction.com

On January 9th, I wrote about an AUDUSD breakout with a target of 0.7030. After a few days of retesting the 0.6880 area as new support, we got our 160-pip move and a retest of 0.7030 today. This morning’s Producer Price Index (PPI) numbers again ...

Submitted Jan 17, 2023|From dailypriceaction.com

EURUSD is coiling ahead of Wednesday’s Producer Price Index (PPI), which promises to be a market mover. The pair is trading within the same 1.0780 to 1.0870 range I mentioned on Saturday. Those are the two key levels traders will be watching ...

Submitted Jan 14, 2023|From dailypriceaction.com|1 comment

Today’s weekly Forex forecast focuses on the EURUSD, GBPUSD, USDJPY, USDCAD, and S&P 500 (SPX500). We have some incredible technicals shaping up for next week, including July 2021 support for USDCAD and an all-time high trend line for the S&P 500. ...

Submitted Jan 13, 2023|From dailypriceaction.com|1 comment

USDCAD is one to watch next week, especially as it approaches 1.3300. It promises to be a significant level that will likely attract a lot of demand. But before we get to that, I want to mention two critical points for anyone trading USDCAD or any ...

Submitted Jan 12, 2023|From dailypriceaction.com

I’ve written about USDJPY a few times in recent weeks, pointing out 130.60 as support and 134.50 as resistance. Despite their best efforts, bulls and bears have yet to break either level. We’ve watched USDJPY ping pong between these two levels since ...

Submitted Jan 11, 2023|From dailypriceaction.com|1 comment

Bitcoin (BTC) has had a nice run in 2023, gaining 6% since January 1st. It may not sound like much in the crypto world, but a 6% rally is a welcome sight considering the beating that crypto assets have taken since November 2021. Not only that, but ...

Submitted Jan 9, 2023|From dailypriceaction.com

AUDUSD is breaking out today after weeks of consolidating below 0.6880. A daily close above that level today will offer traders an opportunity to watch for fresh longs, given the uptrend since mid-October. However, you’ll want to mark an upcoming ...

Submitted Jan 6, 2023|From dailypriceaction.com|1 comment

On December 28th, I discussed a potential bearish fakeout from NZDUSD at the 0.6400 handle that suggested weakness. The idea was to watch for a short opportunity at 0.6400 on a retest. However, NZDUSD didn’t make it that high as the pair topped out ...

Submitted Jan 5, 2023|From dailypriceaction.com

On December 22nd, I discussed the potential for a bounce from USDJPY at the 130.60 support area. We got the short-term bullish move over the next few days right into the 134.20 target I mentioned to Discord members and the subsequent bearish ...

Submitted Jan 4, 2023|From dailypriceaction.com

Bitcoin (BTC) broke out overnight from a triangle pattern that has developed since December 20th. However, today’s FOMC meeting minutes at 2 pm EST promise to bring volatility, so caution is needed. Furthermore, Bitcoin has yet to clear the $16,900 ...

Submitted Jan 3, 2023|From dailypriceaction.com|1 comment

On December 22nd, I wrote about two USDJPY equidistant channels. The first, larger ascending channel broke down in November, and the smaller descending one remains intact. There was a confluence of resistance near 134.20 that I also mentioned on ...

Submitted Dec 30, 2022|From dailypriceaction.com

EURGBP broke out from a bullish ascending triangle on December 21st, which I wrote about on the same day. Our target following that breakout was 0.8772, a key horizontal level and the pattern’s measured objective. EURGBP reached the target on ...

Submitted Dec 28, 2022|From dailypriceaction.com|1 comment

NZDUSD has been in an uptrend since mid-October. However, the intermediate trend that began in early 2021 remains bearish. So the rally since October could be nothing more than a correction within a larger downtrend. At the same time, I wouldn’t get ...

Submitted Dec 27, 2022|From dailypriceaction.com|1 comment

EURUSD has been sideways since climbing above 1.0580 on December 13th. When I last wrote about the euro, I mentioned that a 4-hour close below that area could trigger a short opportunity. However, EURUSD bulls have remained resilient so far. But the ...

Submitted Dec 26, 2022|From dailypriceaction.com

The US dollar index (DXY) is coiling for a move later this week. Most retail markets are closed today in observance of Christmas day. However, the DXY is the market to watch as we head into the new year. We have a macro support area that will be a ...

Submitted Dec 23, 2022|From dailypriceaction.com

Markets are as indecisive as ever ahead of Christmas weekend. There’s a case for both dollar strength and weakness in the coming weeks, which makes conditions as tricky as ever. However, USDCAD is one pair that has formed a near-perfect breakout ...