Daily Price Action
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Category Archives for Free Forex Trade Setups

EURUSD Pre-FOMC Trade Plan

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EURUSD price action showing two descending channels

Could today’s FOMC push EURUSD out of its comfort zone?

I think there’s a good chance.

Even if today’s events don’t force a break, the EURUSD is going to be forced to make a decision soon.

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EURCHF Opportunity Materializes Above 1.0970

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EURCHF daily close above 1.0970

The EURCHF appears to be setting up for us.

On Friday, I wrote that the pair would produce an opportunity this week.

I didn’t know for sure it would, but given the way buyers were pressuring the 1.0970 level, a break higher did seem likely.

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(VIDEO) GBPCAD Price Action Targets 1.6800

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GBPCAD price action thumbnail

On September 9, I wrote about a possible 500-pip reversal for GBPCAD.

The inverse head and shoulders that has been developing here since July has a height of 500 pips.

Therefore, a close above the neckline was going to confirm a 500-pip objective, or approximately 1.6800.

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EURGBP: Staying Bearish Below 0.8920

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EURGBP price action support and resistance levels

On August 19, I wrote about a potential top for EURGBP.

The pair had just carved a bearish engulfing pattern on the weekly time frame after 14 consecutive weeks of gains.

That’s an ideal combination for a reversal.

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USDJPY: Keep an Eye on 108.00

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USDJPY buyers are being tested today.

In Sunday’s video, I mentioned that the direction for this week would come down to whether or not buyers could hang on to that 108.00 area as support.

That’s the top of a descending channel that began in April.

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