Submitted Jan 21, 2020|From dailypriceaction.com

The AUDJPY, like other yen crosses, has been consolidating for several weeks. We have also seen a short-term uptrend develop since the August 2019 low. This upward movement is overshadowed by a downtrend that has been in place since early 2018. That ...

Submitted Jan 20, 2020|From dailypriceaction.com

The EURCAD looks ready to resume its downtrend. We saw the pair’s ability to move lower in late June and early July of last year. The same was true between August and September when the EURCAD lost over 500 pips. However, the pair can be challenging ...

Submitted Jan 16, 2020|From dailypriceaction.com

The AUDUSD is encountering sellers right where we thought it might. On January 7th, I made a video about how the recent AUDUSD rally could be in trouble. If you watched that video, you know that 0.6930 was a key level. It’s no surprise then to see ...

Submitted Jan 15, 2020|From dailypriceaction.com

The EURGBP has a decision to make. Either follow through on this recent break above descending channel resistance or close back below it. I wrote about this on Monday as the pair was breaking out. If you saw that post, you know that a higher EURGBP ...

Submitted Jan 14, 2020|From dailypriceaction.com

The GBPAUD is playing out beautifully for us so far. I wrote about the potential for a bearish reversal on Tuesday of last week. At the time, the pair was trading at 1.9110. I managed to get a small short position on from 1.9100, which I also ...

Submitted Jan 11, 2020|From dailypriceaction.com|9 comments

The EURUSD continued its sideways movement last week. Friday carved a bullish engulfing candle, but it isn’t convincing enough for me to buy the pair. Furthermore, the EURUSD is still within this consolidation zone between 1.1075 and 1.1180. I’ve ...

Submitted Jan 10, 2020|From dailypriceaction.com

On Tuesday, I wrote about a possible GBPAUD reversal. The weekly bearish engulfing candle from mid-December looked ominous, especially given the multi-year highs that preceded it. Additionally, the price structure on the daily time frame hinted at a ...

Submitted Jan 10, 2020|From dailypriceaction.com|2 comments

The GBPUSD is struggling to find its way. We no longer have the bullish momentum that was present in late 2019, and sellers haven’t been able to sink their teeth in, at least not yet. But the indecision isn’t surprising. The GBPUSD has produced some ...

Submitted Jan 9, 2020|From dailypriceaction.com|5 comments

video The USDJPY recently closed below the 108.40 key level. Given the way this area supported the pair last November and December, the January 3rd close below it looked relatively bearish. However, the USDJPY retested 108.40 as new resistance on ...

Submitted Jan 8, 2020|From dailypriceaction.com

XAUUSD (gold) has had an impressive run. I first mentioned this falling wedge, also known as a bullish continuation pattern, in the November 16th forecast video. The pair was trading at 1467 at the time, but the idea was there. I also discussed the ...

Submitted Jan 8, 2020|From dailypriceaction.com

The GBPJPY has been trending higher since September of last year. Notice the higher lows and higher highs on the daily chart below. However, a look at the price action since January of 2018 shows a lot of indecision from the GBPJPY. But despite the ...

Submitted Jan 6, 2020|From dailypriceaction.com

The EURJPY is resting on a level that could offer an opportunity in the days and weeks ahead. I discussed this ascending channel in Saturday’s forecast video. Friday’s session closed just above support at 120.30, and Monday’s session is bouncing ...

Submitted Jan 5, 2020|From dailypriceaction.com

video In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, USDJPY, EURJPY, and XAUUSD through January 10, 2020. The EURUSD tested a significant resistance area last week. I first discussed the descending ...

Submitted Jan 3, 2020|From dailypriceaction.com

On December 30th, I wrote that the future direction for USDJPY hinges on 108.40. Notice how the pair has caught a bid here since mid-November. I also pointed out the price structure of the pair in the December 30th members-only video, namely the ...

Submitted Jan 2, 2020|From dailypriceaction.com

If you watched the last Forex forecast video, you know how significant 0.7015 is for the AUDUSD. Or at least you know my view on that area. It isn’t all that clear from the daily time frame, but the weekly has caught a bid at 0.7015, starting with ...

Submitted Jan 2, 2020|From dailypriceaction.com

The EURUSD is coming off the top of a descending channel I’ve mentioned several times, including the December 30th commentary. The pair’s failure to close the day above that 1.1200 area on the 31st meant that a pullback was likely. Sure enough, the ...

Submitted Dec 31, 2019|From dailypriceaction.com

XAUUSD (gold) continues to push higher following the December 23rd breakout above the 1480 confluence of resistance. I wrote about that breakout on December 19th and several times before then. The rally earlier this year combined with this latest ...

Submitted Dec 30, 2019|From dailypriceaction.com

The EURUSD is testing a resistance area I’ve mentioned several times over the last two months. This descending channel top around 1.1200 is the same one I pointed out as the EURUSD was breaking higher on October 10th. Now, here’s where things get ...

Submitted Dec 30, 2019|From dailypriceaction.com

The USDJPY is coming off a resistance area today near 109.60. I discussed this level in the December 14th forecast video and again on the 21st. It’s a trend line that extends from the November 2018 high. One could even argue that it extends from the ...

Submitted Dec 28, 2019|From dailypriceaction.com|1 comment

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, AUDUSD, NZDCAD, and XAUUSD through January 3, 2019. The EURUSD is set to start this week at a significant resistance area. I’ve discussed the 1.1170 region ...