Submitted Nov 17, 2015|From dailypriceaction.com

NZDUSD fell to its lowest level since mid September during yesterday’s session. The pair is now resting on new support at 0.6455 after being down more than 400 pips since the October high at 0.6896. I mentioned the 0.6455 handle over the weekend as ...

Submitted Nov 15, 2015|From dailypriceaction.com

EURUSD continues to look weak after failing to climb above the 1.0820 handle following Thursday’s rally. This level can be seen acting as support in both May and July of this year and has now started to act as resistance. I mentioned last week that ...

Submitted Nov 13, 2015|From dailypriceaction.com

AUDNZD has managed to climb back above the 1.0880 handle on the back of strong employment figures for the Australian dollar. The numbers showed a healthy employment change for the month of October along with a reduced unemployment rate, both ...

Submitted Nov 12, 2015|From dailypriceaction.com|1 comment

GBPJPY is back to a well-worn level at 187.20. This level has now acted as resistance on four separate occasions since the pair dropped below it on August 24th. As if to confirm its intent, yesterday’s price action formed a bearish pin bar on the ...

Submitted Nov 11, 2015|From dailypriceaction.com|9 comments

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Submitted Nov 11, 2015|From dailypriceaction.com

Over the last 24 hours, GBPUSD has managed to climb back above the 1.5110 level, an area that had previously acted as support since May but was broken during last Friday’s session. This reversal indicates a level of demand that could push the pair ...

Submitted Nov 9, 2015|From dailypriceaction.com

Technical analysis is a blend between an art and a science. It cannot be one without the other. While its inner-workings are somewhat of a mystery, one thing we do know is that it relies on market perception. A pattern or level that stands out as ...

Submitted Nov 8, 2015|From dailypriceaction.com

EURUSD continued its slide last week after a strong NFP figure pushed the pair below my first target at 1.0820. However I don’t think that the bears are done just yet. Last week’s move came after the pair broke below seven-month channel support on ...

Submitted Nov 4, 2015|From dailypriceaction.com

After a 1,000-pip rally off of the August low, NZDJPY is in the process of completing a topping pattern that could trigger a revisit to former lows. You may remember the sixteen-month head and shoulders pattern that we traded back in June. This ...

Submitted Nov 2, 2015|From dailypriceaction.com

GBPJPY continues to drift higher after testing major trend line support for the fourth time in twelve months. This level extends off of the October 2014 low and has been on our radar for some time now. Although the pair has found a bid over the last ...

Submitted Nov 1, 2015|From dailypriceaction.com

EURUSD was a mixed bag last week. After falling below the October 23rd low on the back of a hawkish FOMC statement, the single currency pared most of its losses during Friday’s session. However those gains failed to stick as the pair quickly fell ...

Submitted Oct 26, 2015|From dailypriceaction.com|2 comments

USDCHF is a pair that I rarely trade or even talk about, however the move made during yesterday’s session is certainly worth mentioning, if not trading. The wedge pattern that has been in place since January broke during yesterday’s session as the ...

Submitted Oct 25, 2015|From dailypriceaction.com|3 comments

Needless to say, EURUSD has made its way back to the top of my watch list after last week’s break below seven-month channel support. I have been apprehensive to trade the single-currency over the last few months as the price action had become ...

Submitted Oct 18, 2015|From dailypriceaction.com|3 comments

EURUSD started off last week strong with a 130 pip rally, however things quickly turned south during Thursday’s session as the pair carved out a bearish engulfing pattern on the daily chart. By the end of Friday’s session, the bears had wiped out ...

Submitted Oct 15, 2015|From dailypriceaction.com

After six long weeks of consolidation, USDJPY has finally broken free from the wedge pattern that began following the August 24th selloff. During that session, the pair saw a low of 116 but managed to close the day above 118.30. The thought of going ...

Submitted Oct 11, 2015|From dailypriceaction.com

EURUSD continues to churn higher inside of this larger eight-month channel. However the bulls are not out of the woods yet as they still face resistance at the trend line off of the August 7th low as well as the September high at 1.1450. To the ...

Submitted Oct 8, 2015|From dailypriceaction.com

Since finding a bottom at 1.3680 in late April, EURAUD has been in an uptrend that has garnered more than 2,000 pips for the bulls. Of course this move pales in comparison to the massive 9,000 pip selloff that took place between 2009 and 2012. ...

Submitted Oct 6, 2015|From dailypriceaction.com

Despite recent weakness, AUDNZD looks ready to hold the range that has been in place since July. However we do need to see some confirmation in the form of bullish price action before an entry can be justified. There are actually two levels in play ...

Submitted Oct 4, 2015|From dailypriceaction.com|3 comments

EURUSD made an impressive move higher during Friday’s session following a disappointing NFP figure, retesting the highs from the 24th and 29th of September. However the rally was short-lived as sellers quickly pushed the pair 100 pips lower before ...

Submitted Sep 28, 2015|From dailypriceaction.com

GBPUSD continues to look weak after being rejected at support-turned-resistance between September 17th and 18th. Since that time the pair has lost 500 pips and doesn’t appear to be done just yet. In the bigger picture we can see that a series of ...