Submitted May 11, 2020|From dailypriceaction.com|1 comment

USDJPY is surging higher today after sliding 330 pips lower since April 7th. But today’s surge in price isn’t a surprise, at least not to Daily Price Action members or me. Truth is, I’ve been buying the USDJPY since late April. My first two attempts ...

Submitted May 9, 2020|From dailypriceaction.com|1 comment

video In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, NZDUSD, XAUUSD, and BTCUSD through May 15, 2020. The EURUSD played out perfectly for myself and DPA members last week. I went short on May 1st when ...

Submitted May 6, 2020|From dailypriceaction.com|6 comments

The last time I wrote about NZDUSD was April 21st. That was the first time I discussed the potential for a 2,000 pip drop. Let’s just say my view wasn’t all that popular with some people. But here we are eleven trading days later, and the NZDUSD is ...

Submitted May 5, 2020|From dailypriceaction.com

It’s difficult to find a more polarizing topic than that of Bitcoin. You either believe in it, or you don’t. But in all of my research, I would say the vast majority of people simply don’t understand it. While I’m not going to get into what Bitcoin ...

Submitted May 2, 2020|From dailypriceaction.com|4 comments

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, USDJPY, AUDUSD, and XAUUSD through May 8, 2020. The EURUSD gained ground last week after breaking above the 1.0890 level. It all started with the April 24th ...

Submitted Apr 30, 2020|From dailypriceaction.com

On April 22nd, I wrote about a potential breakout from the USDJPY. Since that time, however, the pair hasn’t done much. It even broke below the 106.90 support level on April 28th. But as I told Daily Price Action members earlier this week, that ...

Submitted Apr 28, 2020|From dailypriceaction.com|2 comments

Markets don’t break multi-year trend lines without some volatility. In the case of the EURUSD, the pair is trading just above a twenty-year trend line that extends from the euro’s all-time low at 0.8225. And if you use pricing data from the basket ...

Submitted Apr 27, 2020|From dailypriceaction.com|1 comment

The GBPUSD encountered selling pressure at 1.2450 on Monday. I spoke about the 1.2440/50 resistance area in Saturday’s Forex Forecast video. I also reviewed the potential for a head and shoulders reversal here. The pattern hasn’t been around for as ...

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

The USDJPY has spent the past six days consolidating. In fact, I could argue that the pair has been directionless following the selloff and ramp higher at the end of 2016. You can see the indecision from the monthly time frame. This is a chart I’ve ...

Submitted Apr 21, 2020|From dailypriceaction.com|11 comments

Every so often, we’re presented with incredible opportunities in the currency market. And once in a lifetime, we’re presented with, well, once in a lifetime opportunities. With everything going on in the world today, I see this as the latter. My ...

Submitted Apr 20, 2020|From dailypriceaction.com

It’s been a while since I commented on the AUDUSD. But that doesn’t mean I haven’t been watching it. I track all of the major currency pairs, and I’m especially interested in them now given the increase in volatility. I certainly don’t want to be ...

Submitted Apr 19, 2020|From dailypriceaction.com|4 comments

The EURUSD is nearing the end of a massive terminal pattern. I discussed the multi-year wedge below on April 14th and again on April 16th. image It is, in my opinion, the most pivotal pattern in the euro’s history. The bottom of the wedge above ...

Submitted Apr 16, 2020|From dailypriceaction.com

On Tuesday, I wrote about a multi-year pattern on the EURUSD. I even called it the most pivotal pattern in the euro’s history. It was a bold claim, but I stand by what I wrote. It’s my view that the wedge pattern below will dictate the future ...

Submitted Apr 15, 2020|From dailypriceaction.com

On April 2nd, I discussed a pattern that would likely send the USDCAD higher. I also mentioned two options for USDCAD bulls on March 30th. The key takeaway from those posts was that buyers needed to secure a close above the descending channel ...

Submitted Apr 14, 2020|From dailypriceaction.com|1 comment

The EURUSD has started to settle in after weeks of extreme volatility. We caught a few of those moves, including the false break above the upper boundary of a descending channel from 2019. Sellers even managed to close the April 2017 gap at the end ...

Submitted Apr 13, 2020|From dailypriceaction.com

I’ve spoken about a bearish EURJPY scenario since April 3rd. I also wrote about how the bearish scenario was intact while EURJPY was below 118.50 on April 8th. That 118.50 area is the bottom of an ascending channel from the year-to-date low. I’ve ...

Submitted Apr 11, 2020|From dailypriceaction.com|1 comment

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD through April 17, 2020. The EURUSD broke above 1.0825 last week. It’s a key level I mentioned in last Saturday’s forecast video. ...

Submitted Apr 7, 2020|From dailypriceaction.com

Patience pays as a trader. If you saw my March 24th post on the NZDUSD, you know I have been anticipating a move higher from the pair. I wasn’t necessarily interested in buying the New Zealand dollar, but I was looking to short it from higher ...

Submitted Apr 6, 2020|From dailypriceaction.com|1 comment

USDJPY bulls are off to a strong start this week thanks to a bounce in equities. But should you trust the latest rally? I can’t speak for you, but I’m not rushing off to buy the USDJPY. The pair is trading below the trend line that extends from the ...

Submitted Apr 2, 2020|From dailypriceaction.com|1 comment

Two days ago, I wrote about USDCAD. I was waiting for a daily close above a descending channel that extends from the year-to-date high. That structure, in my opinion, illustrates consolidation following the parabolic move from earlier this year. In ...