Daily Price Action
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Category Archives for Free Forex Trade Setups

GBPUSD Tests Key Resistance at 1.40

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GBPUSD feature 4.19.21

Two weekends ago, I pointed out a descending channel on GBPUSD.

I mentioned on Sunday that it looked like the pair broke resistance last week, but I was waiting for something more convincing.

Today’s 170 pip rally is certainly that.

The challenge now is that the GBPUSD is testing a key resistance level at 1.4000.

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(Video) Weekly Market Forecast for EURUSD, GBPUSD, USDJPY, XAUUSD, BTCUSDT (April 19 – 23, 2021)

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The EURUSD closed last week above the 1.1950 area I’ve mentioned a few times recently.

However, as I describe in today’s video, there is more resistance just above Friday’s high, near 1.2000.

Buyers have to clear that area to expose 1.2030 and perhaps 1.2180.

Alternatively, bearish price action from the 1.2000 region followed by a daily close below 1.1920 could send the EURUSD lower.

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EURUSD Clears 1.1920 Resistance, but 1.1950 Remains

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The EURUSD is breaking above the 1.1920 level today.

The area has served as resistance since April 7th.

However, even a daily close above 1.1920 wouldn’t suggest that buyers are free and clear of resistance.

As I mentioned last weekend, the 1.1950 is a critical area as well.

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(Video) Weekly Market Forecast for EURUSD, GBPUSD, AUDUSD, XAUUSD, ADAUSDT (April 12 – 16, 2021)

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Forecast 4.11.21

The EURUSD broke free from a trend line last week near 1.1760.

I mentioned this breakout last week when the EURUSD was trading over 100 pips below Friday’s close.

The pair hit some resistance at 1.1915 before the weekend.

However, I still think there’s a good chance we see 1.1950 in the week ahead, but only if EURUSD can clear 1.1915 on a daily closing basis.

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ETHUSD: Ethereum Dip to Offer Buying Opportunity

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ETHUSD just experienced a 10% pullback from yesterday’s high.

Such pullbacks in crypto aren’t rare.

I was also anticipating this drop to the $1,950 region per my comments yesterday on Twitter.

In fact, the lower boundary to my support area for Ethereum was $1,933.

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