Submitted Aug 6, 2019|From dailypriceaction.com

The EURCHF is approaching a key resistance area at 1.0970. I wrote about this level in Sunday’s forecast. So far, the idea remains the same, which is to watch for a rejection from 1.0970 over the coming sessions. Notice too how EURCHF bounced from ...

Submitted Aug 6, 2019|From dailypriceaction.com

AUDUSD is bouncing today from our target at 0.6750. I first wrote about the short idea on July 24th. At the time, the pair was still trading above ascending channel support at 0.6960. However, given the broader descending channel, a break lower ...

Submitted Aug 5, 2019|From dailypriceaction.com|1 comment

On July 29th, I wrote about an NZDUSD short opportunity. The pair was in the process of breaking below ascending channel support near 0.6630. Our target for that breakdown was 0.6490. Notice how today’s session has reached a low of 0.6488. ...

Submitted Aug 4, 2019|From dailypriceaction.com

The EURUSD is set to start the week just below a key resistance level. We’ve been discussing the 1.1110 area for several weeks now. You can see how it served as support for the euro between April and July before breaking down on July 31st. Just when ...

Submitted Aug 2, 2019|From dailypriceaction.com

There have been a ton of quality opportunities lately, and GBPUSD is no exception. The pair was signaling a break lower at the end of July. Notice the lower highs into that 1.2380 level between July 12th and the 26th. Anytime you see a market ...

Submitted Aug 2, 2019|From dailypriceaction.com

The EURCHF has been producing some incredible opportunities of late. The stair-step action since June has produced some favorable movement including three distinct chances to get short. I wrote about one of them on July 21st. Back then, the EURCHF ...

Submitted Aug 1, 2019|From dailypriceaction.com

The USDJPY is testing a significant resistance area today. The 109.00 region has served as a pivot for the risk-sensitive pair since January. As you may well know, support and resistance are often areas or zones rather than exact prices. I would ...

Submitted Jul 24, 2019|From dailypriceaction.com

The AUDUSD is lower today for the fourth straight session. It comes following a rejection of descending channel resistance at 0.7070. The pair is also below its July open of 0.7026 and has been trending lower since January of last year. With all ...

Submitted Jul 22, 2019|From dailypriceaction.com

The AUDJPY has been resilient since reaching its year-to-date low in June. Following that 73.92 print on June 18th, AUDJPY started to carve higher lows. You can see that in the July 3rd and 11th lows. So far, buyers aren’t shy about bidding at these ...

Submitted Jul 20, 2019|From dailypriceaction.com

Last week I talked about a potential breakout opportunity on EURJPY. The pair has now spent more than two months consolidating within this 240 pip range between 120.90 and 123.30. When I wrote about this last week I was favoring a downside break. ...

Submitted Jul 17, 2019|From dailypriceaction.com

GBPUSD is hitting fresh 2019 lows this week. It comes following last week’s close back above the 1.24800 – 1.2500 support area. However, I was never interested in buying GBPUSD. I even mentioned that on Sunday. Here’s what I wrote: As long as the ...

Submitted Jul 10, 2019|From dailypriceaction.com|3 comments

The EURCAD broke below a key level on July 3rd. I wrote about 1.4750 on June 19th. We were interested in this level following the break below wedge support near 1.4970. The pair ended up closing back above that wedge bottom, but later confirmed our ...

Submitted Jul 8, 2019|From dailypriceaction.com

USDJPY is testing a key resistance level today. I’ve written about the 108.70 area several times recently. You can see where it served as a pivot in January and early February. You will also notice how 108.70 capped the June advance which I wrote ...

Submitted Jul 7, 2019|From dailypriceaction.com|3 comments

Last week, we discussed a EURUSD short idea. At the time, the euro was trading above the confluence of support at 1.1250/60. You can see the horizontal level in this area along with ascending channel support that extends from the May 30th low. ...

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

EURUSD is approaching a make or break area at 1.1260. I’ve mentioned this region several times in recent weeks. For one, it served as resistance for the euro in the first half of May. Furthermore, the 1.1250/60 area is the support level of what is ...

Submitted Jul 1, 2019|From dailypriceaction.com|2 comments

On June 9th, I wrote about an NZDCAD short opportunity. The pair was in the process of breaking below ascending channel support. Sellers had also defended the 0.8870 resistance area with a weekly bearish pin bar to show for their efforts. Our first ...

Submitted Jun 30, 2019|From dailypriceaction.com

EURUSD had trouble making progress of any kind last week. I wrote about the 1.1340/50 support area on June 25th. I’ve also mentioned 1.1410 resistance since May. These two levels marked last week’s boundaries perfectly. However, the fact that the ...

Submitted Jun 23, 2019|From dailypriceaction.com|3 comments

EURUSD put in a significant reversal at the end of last week. Shorts became trapped below 1.1260, and as soon as the level was reclaimed, the euro took off to new monthly highs. These traps have become a theme for the EURUSD in 2019. It’s why I keep ...

Submitted Jun 19, 2019|From dailypriceaction.com

The EURCAD cracked a massive support level yesterday. But this wasn’t a surprise. I wrote about EURCAD back on May 21st. In that commentary, I mentioned how a daily close below this trend line would open up downside targets. The lower highs since ...

Submitted Jun 17, 2019|From dailypriceaction.com

Last week I pointed out a significant resistance area for EURGBP. I mentioned the 0.8930 area again on Sunday. But given the way buyers were pressuring the region, I was more interested in a break higher than anything else. Today’s session appears ...