Daily Price Action

Category Archives for Free Forex Trade Setups

(Video) Weekly Forex Forecast for November 18 – 22, 2019

Thumbnail image for the Forex Forecast 11.16.19

In this weekly Forex forecast, I’m going to show you exactly how I’m trading EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD through November 22, 2019.

The EURUSD price action remained predictable last week.

On November 5, I made a video about the significance of the support area between 1.0990 and 1.1020.

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NZDUSD: Keep This Pattern on Your Radar Next Week

NZDUSD potential inverse head and shoulders reversal

On October 31 I made a video about the potential for a 200 pip rally from the NZDUSD.

The inverse head and shoulders that looked to be forming was one to watch.

You may remember that the pair was also coming off the confluence of support around 0.6200.

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EURUSD Price Action Remains Predictable

EURUSD key support and resistance levels

This week’s bounce from the EURUSD is no surprise.

We’ve been discussing the significance of the support area between 1.0990 and 1.1020 since November 5.

In that post, I also pointed out the short-term ascending channel that extends from the year-to-date low.

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USDJPY to Turn Bearish Below 108.65

USDJPY rising wedge pattern on the daily chart

The USDJPY reached a key inflection point earlier today.

We’ve been talking about this rising wedge that extends from the year-to-date low since October 31.

I also highlighted the possible bullish and bearish scenarios that could play out here on Tuesday.

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EURUSD Buyers Can’t Afford to Lose 1.0970

EURUSD ascending channel on the daily time frame

On November 5, I published a video about the potential for a move into 1.1000 from the EURUSD.

The way the pair was leaning on 1.1070 support suggested further weakness.

The newly constructed ascending channel hinted at the same.

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