Submitted Oct 21, 2020|From dailypriceaction.com

On October 9th, I wrote about how USDJPY would remain bearish below 106.50. Then on October 14th, I mentioned how the lower highs since February pointed to a retest of 104.20. The pair was also breaking out of a small rising wedge formation. ...

Submitted Oct 21, 2020|From dailypriceaction.com

There has been a lot of bearish euro rhetoric circling the web lately. But is it warranted? Watch today's video to get my thoughts on where the EURUSD might go from here. video EURUSD has been difficult to figure out lately. Since topping out at ...

Submitted Oct 19, 2020|From dailypriceaction.com|1 comment

XAUUSD (gold) looks ready to break higher. The sideways consolidation since topping out in August is indicative of another leg higher. This is a local top, not a cyclical one. Of course, that’s just my opinion, but XAUUSD is holding up incredibly ...

Submitted Oct 15, 2020|From dailypriceaction.com

I wrote about Bitcoin for the first time on this site on May 5th. At the time, BTCUSD was trading just below $9,000, which marks a gain of 27% based on today’s price of $11,400. Since April, I had also been accumulating BTC, which I discussed in ...

Submitted Oct 14, 2020|From dailypriceaction.com

Last week, I wrote about a critical trend line on USDJPY. I also provided an update in last weekend’s forecast video. The idea was simple – look for a short opportunity following a daily close below the trend line for a move to 104.20. But before we ...

Submitted Oct 13, 2020|From dailypriceaction.com

GBPUSD closed above a significant level last Friday. I’ve discussed the significance of 1.2980 several times in recent weeks. However, if you saw the latest weekly forecast, you know that I was hesitant about this breakout occurring on a Friday. In ...

Submitted Oct 13, 2020|From dailypriceaction.com

Silver, or XAGUSD, had a heck of a run between March and August. The metal went from a low of $11.62 on March 18th to $29.84 on August 7th. However, since peaking in early August, XAGUSD has experienced a significant pullback. Or has it? Although ...

Submitted Oct 12, 2020|From dailypriceaction.com

VETUSD put on a show back in July with a 150% rally. Since then, VeChain’s token VET has lost ground. However, a pullback like this after gaining more than 1,000% since the March low is perfectly normal. Not only that, but it’s necessary to keep the ...

Submitted Oct 11, 2020|From dailypriceaction.com

The EURUSD could be carving a descending channel. Given the uptrend since March, this could serve as a bull flag pattern. The euro also broke above a short term trend line last week, suggesting a move higher in the week ahead. However, as of now, ...

Submitted Oct 8, 2020|From dailypriceaction.com

Gold (XAUUSD) is respecting a technical pattern I’ve pointed out a few times recently. As I mentioned last Saturday, 1910 is a confluence of resistance. It’s also the top of what could be a falling wedge. But to be clear, even if XAUUSD takes out ...

Submitted Oct 7, 2020|From dailypriceaction.com

The EURUSD is testing a key resistance area at 1.1800. I mentioned this area in last weekend’s forecast video. As you can see, the 1.1800 area involves a trend line from the recent consolidation lows. It’s the area buyers need to break to ...

Submitted Oct 5, 2020|From dailypriceaction.com

The GBPUSD is trying to take out a key resistance level today. I’ve mentioned the 1.2980 level several times in recent weeks. Notice how it served as resistance last month. However, today I want to discuss something more significant. There’s a ...

Submitted Oct 2, 2020|From dailypriceaction.com

Gold, or XAUUSD in this case, is trying to negate a recent breakdown. I’ve mentioned the 1900 area several times in recent forecast videos. The reason for that is that 1900 was gold’s previous all-time high. You can also see where XAUUSD caught a ...

Submitted Sep 30, 2020|From dailypriceaction.com

The EURUSD is bouncing this week along with most other risk assets. But is it sustainable? The euro did manage a close above 1.1700 yesterday against the US dollar. You can see how 1.1700 served as support in early August. However, EURUSD bulls ...

Submitted Sep 29, 2020|From dailypriceaction.com|1 comment

The NZDUSD sold off sharply after testing the 0.6790 resistance level for the second time on September 18th. But the selloff wasn’t too surprising given the rising wedge that had formed. I mentioned this structure on September 14th. I’ve also ...

Submitted Sep 24, 2020|From dailypriceaction.com

The USDJPY bounced from an area I mentioned last week. The area between 104.20 and 104.60 has served as key support for several years. As I’m sure you noticed, the USDJPY local bottom occurred just below 104.20 before the pair bounced 140 pips. ...

Submitted Sep 21, 2020|From dailypriceaction.com|1 comment

The EURUSD appears to be in the final stages of topping. Last week’s failure to reclaim the 1.1940 resistance area was the first sign that buyers were struggling. Thursday’s pin bar looked promising, although its location on the chart wasn’t ideal. ...

Submitted Sep 16, 2020|From dailypriceaction.com|4 comments

The USDJPY broke a significant pattern at the end of July. Significant is probably an understatement. I’ve discussed this monthly wedge pattern since May, maybe earlier. Notice how USDJPY has held below the 106.00 area on a monthly closing basis ...

Submitted Sep 15, 2020|From dailypriceaction.com

The idea that NZDUSD could weaken over the coming weeks is real. If you saw my forecast from two weeks ago, you know why, at least from a technical perspective. The rising wedge on the daily time frame hints at the potential for a pullback. However, ...

Submitted Sep 14, 2020|From dailypriceaction.com|2 comments

The EURUSD hasn’t changed much lately. The pair is still consolidating between 1.1700 support and the 1.1960 resistance area. However, this is all the more reason to stay cautiously bullish, in my opinion. A sideways market within an uptrend like ...