Submitted Sep 8, 2020|From dailypriceaction.com

If you saw the latest forex forecast video, you know that GBPUSD was battling a key trend line support. Not only was it battling this level, but buyers were struggling to keep their heads above 1.3260 support. As such, I was anticipating a pullback ...

Submitted Aug 30, 2020|From dailypriceaction.com|6 comments

EURUSD bulls are still in charge as of last week’s close. As I mentioned to DPA members last week, I managed to get out of my EURUSD long from July 7th for a 500+ pip gain. I also shorted the EURUSD on the 19th and made just over 60 pips, and went ...

Submitted Aug 24, 2020|From dailypriceaction.com

The EURUSD weakened on Friday after what appears to be a false break above 1.1900 between Tuesday and Wednesday. I wrote about the potential for weakness during Wednesday’s session. All of this comes following a 500+ pip rally that DPA members and I ...

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

The EURUSD is pulling back on Wednesday after closing above 1.1900 on Tuesday. Not only that, but the pair just closed the day below 1.1900. If you saw the last two weekly forecasts, you know that the 1.1900 area was the top of a range that started ...

Submitted Aug 17, 2020|From dailypriceaction.com|1 comment

On August 1st, I wrote about a significant breakdown from USDJPY. The July close below 106.00 was the first time the pair had closed a month beyond a multi-year wedge pattern since its inception in 2015. However, following the July close, USDJPY ...

Submitted Aug 16, 2020|From dailypriceaction.com

video EURUSD spent a second week consolidating between 1.1700 support and 1.1900 resistance. It isn’t surprising considering the aggressiveness of the July rally. Many who entered during that rally have taken profit, while others who were on the ...

Submitted Aug 13, 2020|From dailypriceaction.com

XAUUSD (gold) suffered a significant loss on Tuesday. At more than five percent, it was the largest single-day drop in the last few years. Even the March selloff didn’t register a loss that significant, at least not at the daily close. However, I ...

Submitted Aug 12, 2020|From dailypriceaction.com

EURUSD is range-bound following a 650 pip rally over the last few weeks. That’s the headline here, not that the euro is a sell. At least that’s my opinion. I hear many traders talking about shorting the EURUSD because it’s overextended or that it’s ...

Submitted Aug 10, 2020|From dailypriceaction.com

The EURUSD spent last week consolidating below 1.1900 resistance. That’s the area that buyers need to clear in order to extend the recent rally. More specifically, euro bulls need to secure a daily close above 1.1900 to expose the 1.2090 region. As ...

Submitted Aug 8, 2020|From dailypriceaction.com|3 comments

In Saturday’s forex forecast video, I mentioned a multi-year breakdown for USDJPY. The chart pattern in question is one that I’ve been writing about since April. As you can see from the chart below, USDJPY has been trading within this terminal ...

Submitted Aug 5, 2020|From dailypriceaction.com

I wrote about the bullish narrative for NZDUSD on July 1st. But can buyers keep this trend reversal going? Watch the video below to get my thoughts. Be sure to also scroll down for more commentary and an annotated chart. video On July 1st, I wrote ...

Submitted Aug 4, 2020|From dailypriceaction.com

The last time I wrote about Ethereum (ETHUSD) was on June 4th. That also happened to be the first time I posted about it on this blog. At the time, ETHUSD was breaking out of a multi-year consolidation pattern near $230. Fast forward to today, and ...

Submitted Jul 30, 2020|From dailypriceaction.com

Last Friday, I discussed how AUDUSD was likely to extend its rally this week, given the close above 0.7030. That’s a significant horizontal level for the pair. image Notice how 0.7030 has served as a pivot for AUDUSD since October 2018. Last ...

Submitted Jul 28, 2020|From dailypriceaction.com

EURUSD bulls remain in full control following the break above a bull flag on July 6th. I wrote about that breakout at length; and announced my long position in the member’s area. That position from 1.1299 is still open. As I mentioned in Sunday’s ...

Submitted Jul 26, 2020|From dailypriceaction.com|4 comments

EURUSD bulls have had a heck of a month. I wrote about the bull flag pattern on July 6th. I also told DPA members I was buying the pair when it was trading below 1.1300. My target was 1.1600, which came to fruition with last week’s rally. You can ...

Submitted Jul 22, 2020|From dailypriceaction.com|1 comment

In my last GBPNZD post on June 19th, I wrote about two key levels that would play a role this month. The first was 1.9400 resistance, and the second was 1.9000 support. At the time of that post, GBPNZD had just broken below the 1.9400 level, so it ...

Submitted Jul 21, 2020|From dailypriceaction.com

NZDUSD is breaking above 0.6600 today. It’s a key horizontal level I’ve discussed in the last couple of weekly forex forecasts. Today’s strength comes on the back of the NZDUSD closing last week above a critical multi-year level. Notice how NZDUSD ...

Submitted Jul 20, 2020|From dailypriceaction.com

EURUSD is pushing to new four-month highs today. It comes after the euro broke above channel resistance on July 6th and above 1.1350 last week. If you saw Saturday’s forex forecast, you know that Friday’s close above 1.1420 was contingent on ...

Submitted Jul 18, 2020|From dailypriceaction.com|3 comments

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, EURGBP, EURCAD, and VETUSD through July 24, 2020. EURUSD bulls just capped off an impressive week. I first mentioned this descending channel, which is also ...

Submitted Jul 17, 2020|From dailypriceaction.com|1 comment

I’ve been bullish on XAUUSD since April. The way gold rebounded following the March selloff was no doubt impressive. It also hinted at a bullish continuation, which hasn’t disappointed yet. First, we had the break above 1680 on April 13th. That ...