Submitted Mar 31, 2020|From dailypriceaction.com

I wrote about USDJPY twice at the end of last week. I also included the pair in Saturday’s Weekly Forex Forecast video. Those of you on this website didn’t see it, but I announced my USDJPY short entry from 111.50 in the membership forums last ...

Submitted Mar 30, 2020|From dailypriceaction.com|2 comments

The USDCAD is going through some much-needed consolidation. Following a 1,150 pip rally that started with the March 9th gap up, the USDCAD has given back 750 pips. At least that was the situation as of Friday’s low. Today’s session has the USDCAD ...

Submitted Mar 29, 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, GBPJPY, and EURGBP through April 3, 2020. video The EURUSD continues to offer incredible opportunities. First, we had the late February and early ...

Submitted Mar 26, 2020|From dailypriceaction.com

I wrote about the USDJPY on Wednesday. The key takeaway from that post was the consolidation following some massive moves over the last five weeks. I shared with members my short entry at 111.50 in the forums, and I said the same thing in ...

Submitted Mar 24, 2020|From dailypriceaction.com|1 comment

On March 10th, I discussed the breakout potential of NZDUSD. The multi-year wedge pattern was going to provide us with a breakout, one way or the other. The floor of that wedge extends from the 2000 lows with the ceiling coming off of the 2014 high. ...

Submitted Mar 22, 2020|From dailypriceaction.com

video The EURUSD played out perfectly for us last week. If you watched last weekend’s Forex forecast video, you know that the recent false break above 1.1170 meant that a return to 1.0725 was likely. That 1.0725 area was the open gap from April ...

Submitted Mar 18, 2020|From dailypriceaction.com

On March 11th, I pointed out two ascending channels on GBPNZD that would offer an opportunity in the days ahead. The larger channel extends from the late 2016 lows, while the smaller one started with the 2019 low from July. Here’s what I wrote on ...

Submitted Mar 17, 2020|From dailypriceaction.com

On Sunday, we looked at a bearish EURUSD scenario. Following the close above the 1.1170 area on March 5th, the EURUSD hit our target at 1.1450. However, the pullback into that 1.1170 region was far too aggressive to think about buying the pair, in ...

Submitted Mar 16, 2020|From dailypriceaction.com

On Sunday, I discussed why I didn’t trust the move USDJPY made on Friday. I also stated that the first 24 to 48 hours of this week would be telling for the risk-sensitive pair. The issue was that USDJPY closed back inside the multi-year wedge ...

Submitted Mar 10, 2020|From dailypriceaction.com|1 comment

On Saturday, I discussed a possible bullish scenario for the NZDUSD. The confluence of support at 0.6200, coupled with last week’s bullish candle, hinted at a turn higher. However, before the week could get underway, the NZDUSD suffered a flash ...

Submitted Mar 9, 2020|From dailypriceaction.com

The Japanese yen is rocketing higher today. Weeks ago, I heard rumblings from some traders that the yen was no longer a safe haven currency due to COVID-19’s impact on Japan. I wasn’t one of those traders. The way the USDJPY was acting at the end of ...

Submitted Mar 7, 2020|From dailypriceaction.com|3 comments

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, USDJPY, NZDUSD, and EURJPY through March 13, 2020. The EURUSD confirmed a significant breakout last week. We have discussed this descending channel that ...

Submitted Feb 28, 2020|From dailypriceaction.com|3 comments

On February 21st, I wrote about a USDJPY breakout from wedge resistance. The level in question dates back to the 2015 high, while the bottom of that wedge extends from the June 2013 low. As you can tell, it’s a significant wedge pattern. One thing ...

Submitted Feb 27, 2020|From dailypriceaction.com

On February 19th, I wrote about the reversal potential of EURGBP while above 0.8276. That figure represents the 2019 low for the pair. It’s significant because the Fibonacci analysis I did back on January 31st relied on the EURGBP staying above that ...

Submitted Feb 27, 2020|From dailypriceaction.com

The USDCAD closed above a critical area on Wednesday. The region just above 1.3300 is the intersection of the top of two prominent channels. First, let’s take a look at the descending channel that extends from the 2016 high. Notice how the USDCAD ...

Submitted Feb 26, 2020|From dailypriceaction.com

So far this week, the EURUSD has played out according to the plan I laid out in Sunday’s video. Given last week’s retest of descending channel support that extends from August 2018, a bounce was likely this week. The long lower wick of last week’s ...

Submitted Feb 25, 2020|From dailypriceaction.com|1 comment

Last week, I wrote about a USDJPY breakout from a multi-year wedge pattern. The top of that structure dates back to 2015. However, so far this week, there’s a decent chance that the entire breakout was false. Notice the aggressiveness of this latest ...

Submitted Feb 24, 2020|From dailypriceaction.com

Last week I discussed the reversal potential for EURGBP. It’s the same concept I wrote about on January 31st. I also included EURGBP in Sunday’s forecast video, so be sure to watch it if you haven’t already. So far this week, buyers aren’t backing ...

Submitted Feb 23, 2020|From dailypriceaction.com

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, USDJPY, EURGBP, and GBPCAD through February 28, 2020. video The EURUSD reached the bottom of a descending channel that I’ve discussed since September of ...

Submitted Feb 21, 2020|From dailypriceaction.com|4 comments

The USDJPY is on the move again. After months of consolidating, the risk-sensitive pair ripped 250 pips higher this week. Most of those gains occurred on Wednesday when the pair closed higher by 150 pips, clearing that May 6, 2019 gap at 111.10. I ...