Daily Price Action
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Category Archives for Daily Forex Setups

Price Action Setups: NZDUSD Critical Support Broken

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nzdusd daily forex chart

A lot of great price action today in the Forex market. There are several setups to talk about so let’s dive right in… NZDUSD finally broke down today, closing below the .8520 level. We’ve been watching this one for a while now. From here I think we could see the market retrace to test the […]

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Price Action Setups – USDCAD Setting the Stage for a Move?

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audjpy forex daily chart

One pair I’ve been watching for a while is USDCAD. The pair provided a lot of price action setups late last year, but for the past few months it has consolidated into this bullish wedge pattern. The wedge was broken on May 20th and I figured we would see a move higher. Instead the pair […]

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Price Action Setups – NZDUSD, AUDJPY and USDCHF

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nzdusd forex daily chart

Not a lot of action in the Forex market today with the banks closed for the US holiday. The rest of the week should be much more telling for the levels outlined below. The .8520 level is still in focus for NZDUSD. So far the market is respecting this key level once again. The next level […]

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Price Action Setups – Make or Break Time for NZDUSD

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nzdusd weekly price action chart

Weeks like this are exciting for Forex traders – weeks where there’s a lot on the line for certain currency pairs. We’ll start with NZDUSD… The pair has been in a strong uptrend since August of 2013 and is about to test the .8520 level for the fourth time in six weeks. As seen in the […]

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Price Action Setups – Next Move Lower for AUDUSD?

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audusd daily chart

The markets continue to be fairly choppy and indecisive. Although we’ve seen some big moves this week, there doesn’t seem to be much follow through at the moment. I wanted to preface today’s analysis with this observation for two reasons. Keep this in mind when position sizing for a trade…scaling back might not be a bad […]

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