Weekly Forex Price Action Outlook | May 19 – 24
EURUSD – Approaching the Yearly Lows Selling off for 7 days straight, which is the longest stretch of the year, the Euro is fast approaching the yearly lows at 1.2744. You will notice on the daily chart below that every one of the 7 days of selling (save for the 4th) had significant wicks on the bottom, suggesting that although the pressure is down, the pair is having to fight through...
Read MoreWeekly FX Price Action Chart Outlook | May 5-10
EURUSD The chopfest continues for the Euro, which sold off almost 200 pips from the pin bar signal we discussed last week. The pair is inside now a larger range, with a ceiling of 1.3240 and a floor of 1.2950. With the recent sell-off finding buyers ahead of support on the 20ema, we may see another push higher first, but being the nature of the range has been quite choppy, I’m not willing...
Read MoreWeekly Forex Price Action Outlook | Apr. 28 – Mar. 3
EURUSD The chop continues as the Euro has not been able to string together more than 2 bull/bear days together without flipping sides. Although the bias is slightly down, the pair has been staging a series of false breaks and pin bars galore. Normally so many pin bars do not occur, unless we have incredible indecision going on. With the strong closing on Friday, I’m expecting the pair to...
Read MoreWeekly Forex Price Action Outlook | Apr. 21 – 26
EURUSD Almost exactly as we described on Thursday the EURUSD false break/inside bar scenario played out with the pair popping up to the 1.3121 range forming a pin bar, and then selling off another 70 pips, so hopefully you profited from this as many of our price action students did. The short term range is now confirmed, with 1.3121 being the upside and the big figure at 1.3000 as the downside....
Read MoreWeekly Forex Price Action Outlook | Apr. 14th – 19th
EURUSD Gaining three of the last 5 days, the short term bull run has ran into the key resistance level discussed in last weeks market commentary at 1.3107, attempting three times to break it. Failing to do so, it has settled into a relative range between 1.3115 and 1.3037. A break above targets the 1.3254 area, while breaking down below 1.3037 will cause some profits to be taken, and a likely...
Read MoreWeekly Forex Price Action Outlook | Apr. 7th – 12th
EURUSD Last week in my FX market commentary, I opined how the Euro was in a short term bull trend being well underpinned, and that a daily close above the 20ema would reverse my medium term bearish bias. The bullish uptrend continued from the bullish engulfing bar, and the pair broke above the 20ema on the daily chart, following that up the next day with over 100 pip gain, bouncing right off the...
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