Submitted Sep 30, 2019|From dailypriceaction.com

GBPUSD is bouncing from a level I discussed in Saturday’s video. The 1.2290 area is one that served as resistance in late August before flipping to support following the September 5 close above it. However, GBPUSD buyers face an uphill battle. The ...

Submitted Sep 27, 2019|From dailypriceaction.com|15 comments

Last Friday I wrote about the potential for a pullback from GBPJPY. The pair had stalled at 135.40 resistance, which was our second target following the breakout I wrote about on September 8. Friday’s session carved a bearish engulfing candle, which ...

Submitted Sep 26, 2019|From dailypriceaction.com|6 comments

video EURUSD is sitting on a critical support level today. We’ve discussed the significance of this 1.0900/30 support area in recent posts and videos. You can see how the euro encountered buyers here on September 3 and again on the 12th. I also ...

Submitted Sep 25, 2019|From dailypriceaction.com

GBPUSD is at a pivotal point in this relief rally. I’ve discussed the significance of the 1.2380 level in recent posts and videos. It’s the level that supported GBPUSD back on July 17. It then served as resistance between the 9th and 10th of August. ...

Submitted Sep 23, 2019|From dailypriceaction.com|15 comments

We’ve discussed the EURUSD quite a bit recently. And to be honest, the single currency hasn’t done much since closing below 1.1070 on August 29. The pair has been consolidating between 1.0930 and 1.1070 for eighteen sessions including today. But it ...

Submitted Sep 20, 2019|From dailypriceaction.com|12 comments

The USDJPY has performed well for us lately. Will it continue to do so? Let’s discuss what needs to happen for USDJPY to climb even higher next week. But first, let’s recap the last couple of weeks. The September 5 break above 106.80 was something I ...

Submitted Sep 19, 2019|From dailypriceaction.com

The EURJPY is starting to look primed for a move higher. The recent higher lows into channel resistance from the April 17 high suggest that buyers are willing to step in at higher prices. I discussed this channel and the potential for a break higher ...

Submitted Sep 18, 2019|From dailypriceaction.com

Gold (XAUUSD) is starting to look top-heavy. In fact, it’s looked that way for some time, in my opinion. I wrote about this ascending channel on September 10. More specifically, I mentioned that a close below the confluence of support at 1480 would ...

Submitted Sep 17, 2019|From dailypriceaction.com

On September 9, I wrote about a possible 500-pip reversal for GBPCAD. The inverse head and shoulders that has been developing here since July has a height of 500 pips. Therefore, a close above the neckline was going to confirm a 500-pip objective, ...

Submitted Sep 16, 2019|From dailypriceaction.com

USDJPY buyers are being tested today. In Sunday’s video, I mentioned that the direction for this week would come down to whether or not buyers could hang on to that 108.00 area as support. That’s the top of a descending channel that began in April. ...

Submitted Sep 14, 2019|From dailypriceaction.com|2 comments

I don’t discuss the EURCHF often. It tends to be choppier than other pairs, especially the majors. However, just like several other currency pairs including GBPUSD and AUDCAD, the EURCHF is breaking out of a descending channel. The September 9 ...

Submitted Sep 13, 2019|From dailypriceaction.com|1 comment

The next leg up for GBPUSD is underway. I first wrote about this bullish breakout on September 4. Buyers had just cleared channel resistance at 1.2200, which had us watching for a retest of 1.2200/20 as new support. We got that retest within hours ...

Submitted Sep 11, 2019|From dailypriceaction.com

The USDJPY is approaching an influential area at 108.00. It’s the top of the descending channel that began earlier this year. I wrote about the possibility of a 108.00 retest for USDJPY on September 5 when the pair was in the process of breaking ...

Submitted Sep 10, 2019|From dailypriceaction.com

GBPUSD buyers are back at it again this week. They supported the currency pair on September 5 after the break of channel resistance on the 4th. Buyers also stepped in early this week to keep the price above those August highs at 1.2280. I mentioned ...

Submitted Sep 9, 2019|From dailypriceaction.com|5 comments

Is the GBPCAD gearing up for a massive bullish reversal? Based on the daily and weekly time frames, I would say it’s a likely scenario. While the inverse head and shoulders below is not the cleanest pattern I’ve seen, it could still attract buyers. ...

Submitted Sep 6, 2019|From dailypriceaction.com|6 comments

The EURUSD sold off right where we thought it might on Thursday. I wrote about the 1.1030/60 resistance area on September 4. You can see how this region served as support throughout August. It makes sense then to assume sellers will want to defend ...

Submitted Sep 5, 2019|From dailypriceaction.com

As I type this, the USDJPY is breaking to highs not seen since August 2. The pair is also in the process of breaking that 106.80 resistance area that we have been monitoring for several weeks now. And despite a short-term downtrend that has been in ...

Submitted Sep 3, 2019|From dailypriceaction.com|1 comment

On August 28, I wrote about two significant channels on USDCAD. The first was a larger descending channel that extends from the first half of 2016. The smaller ascending one began at the end of 2017. As appealing as those two patterns are, neither ...

Submitted Sep 2, 2019|From dailypriceaction.com

It looks like we might have our answer as to the pound’s future direction. The GBPUSD is in the process of taking out the 1.2100 area. Sellers are also challenging recent lows near the 1.2000 handle. This was a possibility I discussed in Sunday’s ...

Submitted Aug 30, 2019|From dailypriceaction.com

The EURUSD fell below a key support level on Friday. The pair not only broke the 1.1030 area, but it also carved a fresh multi-year low in the process. From here, I would expect to see sellers defend 1.1030 as new resistance. However, I also think ...