Daily Price Action
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Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (May 6 – 10, 2019)

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GBPUSD ascending channel on the daily chart

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. The EURUSD continues to chop around this week without much direction. This has been the theme throughout 2019. In fact, the euro hasn’t been the most favorable currency pair […]

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Weekly Forex Forecast (April 29 – May 3, 2019)

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EURUSD new resistance level

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action. EURUSD broke a significant support level last week. The 1.1180 level had supported the single currency since the beginning of March. However, Wednesday’s 1.1152 close means that any retest […]

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Weekly Forex Forecast (April 22 – 26, 2019)

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GBPUSD upward sloping flag

EURUSD appears to be on its way to retest 1.1180 for the third time. The single currency bounced from here earlier this month, but Thursday’s selloff looks to have extinguished the short-term bullish momentum. At this point, my base case is for a EURUSD daily close below 1.1180. The “daily close” refers to the New […]

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Weekly Forex Forecast (April 15 – 19, 2019)

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EURUSD key support and resistance levels

After hovering below the March 2018 trend line for a few days last week, the EURUSD broke out on Friday. But we’ve been here before. Euro bulls broke this same trend line on March 20th yet failed to hold onto it as new support. By March 22nd, EURUSD was back below it on a daily […]

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Weekly Forex Forecast (April 8 – 12, 2019)

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EURUSD falling wedge pattern

EURUSD carved one of its more narrow ranges last week. In fact, the single currency ended the week just 12 pips below Monday’s open. I pointed out this 1.1180/90 support area last week. The area triggered the early March bounce and also illustrated a multi-year low for EURUSD. However, last Tuesday’s bounce from 1.1180/90 wasn’t […]

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