by Justin Bennett ·
by Justin Bennett  · 

July 23, 2014

July 23, 2014

AUDCAD is at an interesting crossroads at the moment. The market was able to break above resistance at 1.0115 today but is capped for now by trend line resistance from April. Right now I have to favor a break to the upside as this channel on the daily chart is coming off a 930 pip rally

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by Justin Bennett ·
by Justin Bennett  · 

July 22, 2014

July 22, 2014

The market showed some life today, at least compared to that of yesterday. There are a few potential setups I’d like to highlight as well as the AUDCHF trade that we’ve been following. But first I want to talk about CHFJPY as the pair has given us a lesson in price action by showing three different signals back

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by Justin Bennett ·
by Justin Bennett  · 

July 21, 2014

July 21, 2014

Fairly quiet day across the market as there wasn’t a lot of event risk to move things along. The Aussie Dollar does have some event risk coming up in a few hours, so with that said let’s get to our first pair. The AUDCHF setup was textbook in terms of what we want to see as price

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by Justin Bennett ·
by Justin Bennett  · 

July 19, 2014

July 19, 2014

A lot of potential setups to cover from yesterday’s price action so let’s jump right in… AUDCHF was the trade setup I was most interested in last week and sure enough the bulls came through on Friday, pushing the market higher by 67 pips from channel support. This was a essentially a breakout trade that had

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by Justin Bennett ·
by Justin Bennett  · 

July 17, 2014

July 17, 2014

During the first half of the day we saw AUDCHF move higher and break the nose of yesterday’s pin bar. However the close wasn’t so inspiring for the bulls. That said, this move to the downside wasn’t all that surprising. Once a market breaks out of a channel it often retests the channel as support or resistance.

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by Justin Bennett ·
by Justin Bennett  · 

July 16, 2014

July 16, 2014

Every once in a while a setup comes along where everything lines up the way you were hoping and this AUDCHF setup is no exception. I’ve been talking about this channel for some time now and I mentioned yesterday that the pair was starting to put pressure on channel resistance. Sure enough the pair broke out from

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by Justin Bennett ·
by Justin Bennett  · 

July 15, 2014

July 15, 2014

GBPUSD finally livened up today and in doing so engulfed the previous 10 days. Despite the market’s best efforts it fell short of closing above the July highs at 1.7176. From here I will look to the 4 hour chart for bullish price action from 1.71 to 1.72. If these daily lows can’t support the market

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