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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 […]Continue Reading
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 […]Continue Reading
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 […]Continue Reading
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 […]Continue Reading
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 […]Continue Reading