Daily Price Action
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Category Archives for Daily Forex Setups

GBPUSD Wedge Pattern to Offer Clues

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GBPUSD wedge pattern on the daily time frame

The GBPUSD hasn’t been the most exciting currency pair lately. For nearly two months the pound has been consolidating against the U.S. dollar. And last week’s 115 pip range was the pair’s narrowest in years. However, if there’s one thing I know about consolidation and narrow ranges, it’s that big moves usually follow. A view […]

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AUDUSD Enters Breakout Territory for Next Week

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AUDUSD descending channel

Back on February 26th, I wrote about the AUDUSD. I stated that “AUDUSD is a buy above 0.7240, but not before”. That comment was based on the trend line that extends from the December 2018 high which is also descending channel resistance. I wrote that post when the pair was reaching for the 0.7240 area […]

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AUDNZD Closes in on Target at 1.0670

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AUDNZD support and resistance areas

The AUDNZD has been the best performer so far in April. Back on April 1st, I wrote a post about how the Australian dollar cross was gearing up for a bullish move. Or in my words, a “short-term pop”. The weekly bullish engulfing candle two weeks ago was the first sign that buyers wanted to […]

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EURUSD Sells Off From Key Resistance

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EURUSD key support and resistance levels

On Monday I wrote about a key resistance area for EURUSD. The 1.1290 region is part of the March 2018 trend line. We’ve discussed this level several times over the last couple of months. Even though the pair cleared this resistance level for a few days in March, I figured it would still play a […]

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EURCAD: Keep an Eye on This Trend Line

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EURCAD weekly trend line support

Since the 2017 low, EURCAD has been trending higher. However, it hasn’t been the most impressive rally, at least not since the pair topped out in March of last year. For the last thirteen months, EURCAD has been moving sideways. The pair has even carved a few lower highs and lower lows along the way. […]

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