Daily Price Action
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Category Archives for Free Forex Trade Setups

Price Action Setups: AUDJPY Reacting to Resistance

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audjpy daily forex chart

The markets were fairly quiet today until the RBNZ rate statement which helped to shake things up. There are a few key levels that I’m watching so let’s get to it. AUDJPY put in a bearish outside bar today. While not something I trade often, outside bars can help us spot changes in trend. The last […]

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Price Action Setups: EURAUD Playing on Strengths and Weaknesses

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euraud daily forex chart

EURAUD is my favorite setup at the moment. The pair has been trending down since the second shoulder of the head and shoulders pattern back in March. The pair recently broke two support areas as illustrated in the chart below. This setup is also a play off of current AUD strength and EUR weakness, which […]

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Price Action Setups: EURUSD at Range Bottom

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eurusd daily forex chart

The markets were fairly calm today, with the banks in several countries closed for holiday. In spite of this, I’ve put together two setups we’ve been following along with two pairs on my radar this week. EURUSD closed the day right where we would have expected, at the range bottom around 1.3585. Given last week’s bullish pin […]

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Price Action Setups: EURUSD, EURJPY and NZDUSD

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nzdusd forex daily chart

On Friday I tweeted about this short-term support level on EURUSD. While the support level held throughout the day, I do think the pair’s failure to close considerably higher gives reason to believe that we may see a retest of 1.36 before a larger rally can take place. #EURUSD support level coming into play here pic.twitter.com/ZbeYs2osdU […]

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Price Action Setups: EURUSD Set For a Reversal?

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eurusd daily forex chart

I think it goes without saying that EURUSD stole the show today. Even by late morning the pair was trading well below recent consolidation, but then recovered nearly 160 pips to close the day above the consolidation area. Today’s price action is very similar to the bearish pin bar on May 5th. This isn’t to say that […]

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