Daily Price Action
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Category Archives for Daily Forex Setups

AUDUSD: Don’t Discount the January Bounce

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AUDUSD key support and resistance areas

The January 3rd flash crash caused AUDUSD to lose 250 pips in a matter of seconds. However, the resiliency from buyers no doubt surprised many who were watching. By the New York close at 5 pm EST, AUDUSD had gained 20 pips on the day.  Want access to the same “New York close” Forex charts […]

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NZDJPY Approaches Key Resistance at 76.30

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NZDJPY key resistance area

The NZDJPY played out perfectly for us last December. Most of what I do revolves around breakouts from chart patterns as well as candlestick formations such as the pin bar. However, false breaks can be just as lucrative if not more so. Look no further than what happened to NZDJPY between November 28th and December […]

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EURUSD Descending Channel Offers New Boundaries

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EURUSD descending channel on the daily time frame

Yesterday I mentioned the potential for a EURUSD bounce this week. While it’s still early, the euro has caught a bid so far today. The single currency is up 30 pips following a relatively bullish Friday candle. It wasn’t what I would call a pin bar due to the longer upper wick, but Friday’s session […]

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GBPUSD Enters New Range for Next Week

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GBPUSD daily time frame

GBPUSD has broken below the 1.2850 handle. I discussed this level on Monday as one to watch for directional cues. As long as the pound was above it, there was a chance for a bounce. However, a daily close below it was going to open up downside targets including 1.2700. Following a brief bounce of […]

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CADJPY Shorts Favored Below 84.50

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CADJPY new resistance area on the daily time frame

CADJPY is once again testing 83.80 resistance. The area played a critical role as support between August and December of last year. The Canadian dollar cross sold off from 83.80 earlier this month. However, buyers weren’t ready to fold. You can see how this area is once again attracting sellers today’s session. What’s different this […]

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