Daily Price Action

Category Archives for Free Forex Trade Setups

USDJPY Technicals Point to Breakout in 2020

USDJPY feature image for April 22, 2020

The USDJPY has spent the past six days in consolidation.

I could even argue that the pair has been directionless following the selloff and ramp higher that closed out 2016.

This is a chart I’ve commented on several times over the last few months.

And as I commented last Saturday, the eventual breakout will likely determine the future direction for USDJPY for months to come.

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NZDUSD: 2,000 Pip Opportunity Unfolding

NZDUSD feature image for April 21, 2020

Every so often, we’re presented with incredible opportunities.

And once in a lifetime, we’re presented with, well, once in a lifetime opportunities.

With everything going on in the world today, I see this as the latter.

The key is knowing which side of the market to be on.

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AUDUSD Correction Offers Asymmetric Opportunity

AUDUSD feature image for April 20, 2020

It’s been a while since I commented on the AUDUSD.

But that doesn’t mean I haven’t been watching it.

I track all of the major currency pairs, and I’m especially interested in them now given the increase in volatility.

I certainly don’t want to be stuck in an illiquid cross when volatility strikes.

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(Video) Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (April 20 – 24, 2020)

Forecast feature image April 18, 2020

The EURUSD is nearing the end of a massive terminal pattern.

I discussed the multi-year wedge below on April 14th and again on April 16th.

It is, in my opinion, the most pivotal pattern in the euro’s history.

The bottom of the wedge above starts from the euro’s all-time low just below the 0.8300 mark.

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EURUSD: Next Leg Lower to Materialize Below 1.0870

EURUSD feature image for April 16th, 2020

On Tuesday, I wrote about a multi-year pattern on the EURUSD.

I even called it the most pivotal pattern in the euro’s history.

It was a bold claim, but I stand by what I wrote.

It’s my view that the wedge pattern below will dictate the future direction of the EURUSD for years to come.

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