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Nice price action setup forming on the GBPJPY 4 hour chart. The pair has been forming a wedge on the daily chart since October 2013. We’ll see how the day closes, but the 4 hour chart is looking quite bullish after forming the pin bar off of the wedge bottom (second chart below). GBPJPY pin […]Continue Reading
AUDCAD inched higher today coming off Friday’s pin bar on the daily chart. The next resistance levels come in around 1.042 and 1.054 as shown by the chart below. Current price action does seem to be lingering a bit, so a pullback to support before the next move higher could be in order. AUDCAD levels […]Continue Reading
Today we saw bullish price action on AUDCAD, forming a pin bar on the daily chart after rejecting a key level. If you mark these levels on your AUDCAD daily chart and look back to 2012 you’ll notice these are all key levels in the market. With the current bullish momentum and pin bar today, […]Continue Reading
Not much happening in the market today in terms of valid price action setups. However, the two pairs below continue to show clear support and resistance levels at which we can watch for future price action setups. From my post on Tuesday, we did see the AUDNZD make an impressive move higher today, closing above […]Continue Reading
The EURCAD has put in two consecutive inside bars this week. With the immediate trend down, I wouldn’t be surprised to see price test the 1.49 level before we see the larger uptrend resume. There’s no price action trade at the moment, but this pair does have some interesting levels to watch for the near […]Continue Reading