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Category Archives for Free Forex Trade Setups

GBPNZD Lower Highs Point to Imminent Breakdown

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On March 18th, I wrote about an ascending channel on GBPNZD.

The pair was trading at 2.0300 at the time and was breaking down from a channel that extends from the July 2019 lows.

That breakdown led to a 1,300 pip selloff.

For the last 14 weeks, GBPNZD has had little to no direction.

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(Video) Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, AUDUSD, VETUSD (October 26 – 30, 2020)

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The EURUSD gained a decent amount last week after a slight pullback the week before.

If you saw Wednesday’s video, you know that I managed to get long here.

As I mentioned in that video, I liked the idea of the 1.1815 area becoming new support.

That’s exactly what happened between Thursday and Friday.

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EURAUD: Next Week Hinges on 1.6570

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EURAUD is testing a critical level as new support today.

I wrote about the potential for a breakout above 1.6570 on October 16th.

I was looking for a daily close above that level to confirm the breakout and get long.

As I mentioned to DPA members earlier in the week, I managed to get long with an average just higher than 1.6570.

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VETUSD Continuation Pattern to Trigger a 100% Move

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I first wrote about VeChain’s token VET on June 26th.

At the time, it was trading around $0.0088.

Shortly after that post, VETUSD went on a 150% run.

What’s noteworthy about that rally is that it took just eight days.

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USDJPY Reached Our 104.20 Target, What’s Next?

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On October 9th, I wrote about how USDJPY would remain bearish below 106.50.

Then on October 14th, I mentioned how the lower highs since February pointed to a retest of 104.20.

The pair was also breaking out of a small rising wedge formation.

On top of that, USDJPY has held below the 106.50 resistance area, which used to be the bottom of a large symmetrical triangle.

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