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July 21, 2014
July 21, 2014
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
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.
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
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
July 14, 2014
July 14, 2014
I’m starting with AUDCHF over AUDUSD today simply because I think in terms of technical patterns, AUDCHF is the most interesting. The pair has been stuck in this channel of consolidation since mid June. One thing I love about patterns like this is that they’re terminal, which means they occur at extremities where a breakout is certain.
July 11, 2014
July 11, 2014
Fairly slow day in the market with the exception of the Canadian Dollar which completely fell through the floor. As such I’m highlighting one CAD pair that might give us an opportunity going into next week as well as updates on two pairs that were highlighted yesterday. First off is EURGBP which continues to be one of