by Justin Bennett ·
by Justin Bennett  · 

May 28, 2014

May 28, 2014

A lot of great price action today in the Forex market. There are several setups to talk about so let’s dive right in… NZDUSD finally broke down today, closing below the .8520 level. We’ve been watching this one for a while now. From here I think we could see the market retrace to test the

1  Comments

by Justin Bennett ·
by Justin Bennett  · 

May 27, 2014

May 27, 2014

One pair I’ve been watching for a while is USDCAD. The pair provided a lot of price action setups late last year, but for the past few months it has consolidated into this bullish wedge pattern. The wedge was broken on May 20th and I figured we would see a move higher. Instead the pair

7  Comments

by Justin Bennett ·
by Justin Bennett  · 

May 26, 2014

May 26, 2014

Not a lot of action in the Forex market today with the banks closed for the US holiday. The rest of the week should be much more telling for the levels outlined below. The .8520 level is still in focus for NZDUSD. So far the market is respecting this key level once again. The next level

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by Justin Bennett ·
by Justin Bennett  · 

May 25, 2014

May 25, 2014

Weeks like this are exciting for Forex traders – weeks where there’s a lot on the line for certain currency pairs. We’ll start with NZDUSD… The pair has been in a strong uptrend since August of 2013 and is about to test the .8520 level for the fourth time in six weeks. As seen in the

2  Comments

by Justin Bennett ·
by Justin Bennett  · 

May 22, 2014

May 22, 2014

The markets continue to be fairly choppy and indecisive. Although we’ve seen some big moves this week, there doesn’t seem to be much follow through at the moment. I wanted to preface today’s analysis with this observation for two reasons. Keep this in mind when position sizing for a trade…scaling back might not be a bad

2  Comments

by Justin Bennett ·
by Justin Bennett  · 

May 21, 2014

May 21, 2014

We’re finally starting to see some volatility trickle back into the market. Today saw several currency pairs make moves that at first glance may look opportunistic, but a more prudent strategy may be to wait it out. This is when focusing on raw price action can help separate a potentially great setup from one that might get you in

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by Justin Bennett ·
by Justin Bennett  · 

May 20, 2014

May 20, 2014

We finally saw some markets start to move today. Among them was GBPAUD putting in a 200 pip day. As I type this, price is hovering around the 1.8222 level which we’ve discussed before. The level has previously acted as resistance forming the bearish pin bar on May 2nd (highlighted in blue below). Since that time GBPAUD has made a

2  Comments