Daily Price Action
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Category Archives for Daily Forex Setups

NZDUSD Breakout Potential Continues to Build

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NZDUSD descending channel on the 4-hour chart

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. NZDUSD has tested channel resistance again today. I mentioned this descending channel on May 2nd when the pair was on its way to retest horizontal support at 0.6590. That […]

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USDJPY to Remain Vulnerable Below 109.70

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USDJPY daily time frame

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. On Monday I wrote how Monday’s gap down on USDJPY could leave the pair vulnerable. But it was more about the 111.00 handle than the act of gapping lower. […]

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GBPJPY: Daily Close Below 143.80 to Expose 141.15

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GBPJPY wedge pattern on the daily time frame

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. Last Friday I discussed a potential 500-pip opportunity on GBPJPY. The wedge that began earlier this year spans 500 pips from top to bottom. As such, any break from […]

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AUDJPY Shorts Favored Below 77.50

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AUDJPY new resistance level on the daily chart

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. On April 24th I wrote about how AUDJPY was unlikely to encounter much demand until 77.50. The idea came about because of the false break above 79.80. As is […]

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GBPNZD False Break in Progress?

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GBPNZD rising wedge pattern

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. I have written about GBPNZD a few times recently. I even mentioned that it could be the top trade idea of 2019 back on April 26th. The premise of […]

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