Submitted Jul 6, 2023|From dailypriceaction.com|1 comment

video Today I’m going to show you exactly how I’m trading XAUUSD. I’ll discuss the current range for gold, and the key levels that will trigger a breakout in the coming days. I’ll also share targets for that breakout and how the US Dollar Index ...

Submitted Jun 29, 2023|From dailypriceaction.com|1 comment

Today I’m going to show you exactly how I’m trading the GBPUSD. I’ll share a confirmed fakeout from the pound that could send the market much lower later this year. GBPUSD sold off aggressively on Wednesday, confirming a fakeout I’ve discussed for ...

Submitted Jun 26, 2023|From dailypriceaction.com

Today I’m going to show you exactly how I’m trading the EURUSD this week. I’ll also explain why I’m bearish on the euro through the rest of 2023. video I wrote about a 39-year EURUSD trend line on March 27th. The pair fell below the 12-month trend ...

Submitted Jun 21, 2023|From dailypriceaction.com

The AUDUSD is trading below a key horizontal level today at 0.6785. That’s the former range top between March and May and a must-hold level for bulls. However, instead of shorting today’s move, I will wait to see where today’s session closes at 5 pm ...

Submitted Jun 20, 2023|From dailypriceaction.com|5 comments

Last week, I wrote about the must-hold area for bulls at 1.2740. It’s the intersection of the August trend line and a critical horizontal level from 2020. The pair broke above this area last week, so it’s up to GBPUSD bulls to hold it as new ...

Submitted Jun 15, 2023|From dailypriceaction.com|1 comment

The US Dollar Index (DXY) rallied initially following Wednesday’s Fed rate decision and press conference but has fallen back today. Not only has it fallen back, but the dollar index is also below the channel support I’ve mentioned. That means dollar ...

Submitted Jun 13, 2023|From dailypriceaction.com

USDCAD is dropping below the 1.3325 trend line I’ve mentioned recently. Today’s Consumer Price Index (CPI) numbers came in just under forecast, helping support the rally from stocks. It’s also triggered another down day for the US Dollar Index ...

Submitted Jun 12, 2023|From dailypriceaction.com|1 comment

The EURUSD is flirting with the 1.0760 level today ahead of significant event risk this week, including CPI on Tuesday, FOMC on Wednesday, and an ECB rate decision on Thursday. It’s an incredible line-up that will produce substantial volatility for ...

Submitted Jun 10, 2023|From youtube.com/justinbennettfx|1 comment

Today I will show you exactly how I’m trading the DXY, EURUSD, GBPUSD, USDCAD, and NZDUSD next week. We have some attractive setups forming ahead of next week’s US CPI and FOMC, which I’ll discuss in detail in today’s post. Watch the video and ...

Submitted Jun 9, 2023|From dailypriceaction.com

Just yesterday, I wrote how 1.0760 would decide the future direction for the EURUSD. Thursday’s session closed well above the level and is holding as new support on the 4-hour time frame and higher. However, given the slow summer conditions and next ...

Submitted Jun 8, 2023|From dailypriceaction.com|1 comment

EURUSD remains locked in a 90-pip range that began with the May 24th selloff. Since then, buyers have defended 1.0670, and sellers have protected 1.0760. The EURUSD is trading at its range highs, so we’ll see if this range continues or if we get a ...

Submitted Jun 7, 2023|From dailypriceaction.com|4 comments

The last time I wrote about USDJPY on May 25th, I was expecting a pullback from the 140.00 resistance area. That area held, and USDJPY is still pulling back from recent highs. You can see from the daily time frame below how well this ascending ...

Submitted Jun 6, 2023|From dailypriceaction.com|1 comment

On June 1st, I wrote about a potential USDCAD bounce from the 1.3440-1.3490 area. I even told Daily Price Action members to watch for a stop run below 1.3440 heading into last week’s non-farm payroll. We’ve since had two wicks below the area to ...

Submitted Jun 5, 2023|From dailypriceaction.com

GBPUSD is starting the week lower following Friday’s rejection from 1.2530 resistance. It’s also approaching the neckline of what could be a 350-pip head and shoulders pattern. That level comes in near 1.2300 this week. If you saw Friday’s blog ...

Submitted Jun 1, 2023|From dailypriceaction.com|3 comments

EURUSD started June with a 100-pip rally after a volatile end to May. Given the selloff we saw last month, a retracement in early June was to be expected, although I did think a 1.0600 retest might come first. So what should we watch ahead of ...

Submitted May 31, 2023|From dailypriceaction.com

Bitcoin showed its hand today with a break below $27,500. I’ve written about it a few times as a must-hold level for bulls, given Sunday’s close above it. As of now, this looks like yet another fakeout/deviation from BTC. And it isn’t the first time ...

Submitted May 30, 2023|From dailypriceaction.com

Like Bitcoin, Ethereum had a nice rally over the weekend after reclaiming $1,835. You can see where ETH tested that level as support on the 28th before continuing toward $1,887. You should be very familiar with these levels if you follow me on ...

Submitted May 30, 2023|From dailypriceaction.com

EURUSD is seeing some relief today, breaking above a 4-hour descending channel I discussed in Saturday’s Weekly Forex Forecast. It isn’t surprising, given how aggressive the selloff from the euro has been since May 4th. I’d also expect additional ...

Submitted May 29, 2023|From dailypriceaction.com

Bitcoin played out perfectly over the weekend, hitting my $27,800 target I wrote about on Friday. Given the recent range highs, there was a large cluster of short liquidations there. A rally toward this area became more likely following Friday’s ...

Submitted May 29, 2023|From dailypriceaction.com

The New Zealand dollar has been range bound for most of 2023. However, that started to change last week with the close below 0.6120. Although NZDUSD isn’t far off recent lows, it’s trading below the monthly open and the yearly open at 0.6351. Last ...