Daily Price Action

Category Archives for Free Forex Trade Setups

CADJPY Future Direction Hinges on June’s Closing Price

CADJPY feature image for 6.24.20

CADJPY is sitting on a critical support level as the last four trading days of June.

The level in question is 78.40.

Why is that significant?

Well, if you saw my post on June 11th, you know that 78.40 is the location of a trend line that extends from the pair’s all-time low.

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EURUSD Falling Wedge Triggers Retest of 1.1350; Where to Next?

EURUSD feature image for June 23, 2020

Last Thursday, I commented on the EURUSD stalemate around the 1.1230 area.

I noted how the pair had broken below the 1.1230 handle, but I was skeptical about the potential for further losses.

The reason for my skepticism was that a falling wedge had formed on the intraday charts.

I pointed out this pattern in Saturday’s forecast video as well.

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Cryptocurrencies: Signs of the Next Bull Market Are Here

Post feature for 6.22.20

Cryptocurrencies are a relatively new topic of discussion on this blog.

It’s something I never talked about prior to this year.

However, in early April, I decided to dig in and learn as much as I can.

Like most, I was first attracted to Bitcoin as a store of value given the mass printing by central banks around the world.

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(Video) Weekly Forex Forecast for EURUSD, GBPUSD, GBPNZD, XAUUSD, ETHUSD (June 22 – 26, 2020)

Forex forecast feature 6.20.20

EURUSD lost its bullish momentum last week.

Thursday’s close below 1.1230 signaled weakness, as I pointed out on the 18th.

We saw EURUSD test 1.1230 as new resistance on Friday and even lose additional ground before the weekend.

However, I’m skeptical about the pair’s downside potential as long as that 1.1150 area is intact on a daily closing basis.

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GBPNZD: Failure to Hold 1.90 Would Open Up a 6,000 Pip Opportunity

GBPNZD featured image for June 19, 2020

I haven’t mentioned GBPNZD since March 18th.

At the time, we were watching for a break below a smaller ascending channel for a run at the bottom of a much larger pattern.

Fast forward to today, and GBPNZD has trended lower as anticipated.

The breakdown in early May led to a retest of the 2.0440 area as new resistance.

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