Daily Price Action

Category Archives for Free Forex Trade Setups

(Video) Weekly Market Forecast for EURUSD, GBPUSD, AUDUSD, BTCUSD, ETHUSD (February 8 – 12, 2021)

Market forecast 2.7.21

The EURUSD may have confirmed a false break last week.

I told Daily Price Action members recently that any close below the 1.2000 area isn’t something I would short.

EURUSD has been trending higher since early last year, which means any shorts are counter-trend.

I even said last week that a close below 1.2000 could very well turn out to be a false break.

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GBPJPY: The Start of a 500 Pip Rally?

GBPJPY feature image 2.5.21

I haven’t discussed GBPJPY for some time.

The pair has been sideways since 2016.

We’ve caught a few decent trades since then, but ultimately, GBPJPY has lacked momentum.

That said, the yen cross is breaking out of consolidation this week.

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ETHUSD: Ethereum Enters Price Discovery; Where to Next?

ETH feature image 2.3.21

ETH, the native token to the Ethereum network, reached a milestone yesterday.

On Monday, the cryptocurrency broke through its previous all-time high that was set in the first few weeks of 2018.

ETHUSDT hit an all-time high of $1,547 on Monday and is reaching above $1,600 as I type this.

The pair also closed above that $1,440 all-time high on Monday, making it the highest daily close for ETH ever.

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EURUSD Future Direction Hinges on 1.20

EURUSD feature image 2.2.21

The EURUSD is testing a key trend line today near 1.2040.

I mentioned this level in the last two weekly forecasts.

It extends from the May 2020 lows and intersects with the November lows from last year.

Keep in mind that 1.2000 is also a key horizontal level.

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(Video) Weekly Market Forecast for EURUSD, GBPUSD, AUDUSD, XAGUSD, ETHUSD (February 1 – 5, 2021)

Market forecast feature 1.30.21

The EURUSD still looks indecisive after testing 1.2330 resistance.

However, the uptrend that began last May is intact, which means buyers are in control for now.

That’s the case as long as EURUSD is above 1.2000.

Bullish price action from there could re-target 1.2330, and perhaps 1.2500.

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