Daily Price Action

Category Archives for Free Forex Trade Setups

EURGBP Breakout Sees First Test at 0.8920

EURGBP descending channel on the daily time frame

A few days ago, I wrote about EURGBP.

The pair has been trending lower within this descending channel since it topped out earlier this year.

If you watched Tuesday’s video, you know I was waiting for a break above channel resistance near 0.8920 or bearish price action from the same area.

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EURUSD Bottom in Place?


The last time I wrote about EURUSD was on September 26.

At the time, we were interested to see whether the 1.0900 area would serve as key support or trigger the next leg lower.

If you watched that video, you know I wasn’t interested in selling EURUSD.

I mentioned the same thing in Saturday’s forecast video.

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(Video) GBPCAD to Move 600 Pips Higher?


From a technical standpoint, GBPCAD has been perfect, at least so far.

I pointed out this inverse head and shoulders back on September 9.

I also discussed the pair on September 12, less than 24 hours before we got the massive 330 pip rally on the 13th.

The pair even sold off recently from 1.6600, which is an area we’ve been talking about for weeks.

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(Video) EURGBP Reaches Key Inflection Point at 0.8920


EURGBP is approaching a key inflection point at 0.8920.

I mentioned the pair and pointed out this area in Saturday’s Forex Forecast video.

You can see how this area is the intersection of a horizontal level that dates back to June and descending channel resistance.

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XAUUSD (Gold) Reversal Pattern Targets 1450

XAUUSD (gold) head and shoulders bearish reversal on the daily time frame

Last week, I wrote about gold’s reversal potential.

If you saw Tuesday’s XAUUSD video, you’re well aware of why I thought the metal might reverse from the 1530/40 resistance area.

I also discussed gold in Saturday’s Forex Forecast video.

In fact, if you watched until the end of that video, you’ll see why last week’s reversal at 1536 was somewhat predictable.

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