dailypriceaction

PRO
Message Follow Following Unfollow
About me Justin Bennett is a Forex Trader, Coach, and Founder of Daily Price Action. He has taught more than 1,000 students from 50+ countries in the Daily Price Action community. He has also appeared in Stocks & Commodities Magazine.
Joined USA justinbennettfx dailypriceaction.com
Pro Forex Trader | Coach & Author | Founder of dailypriceaction.com
Markets Allocation
100 % forex
Top Mentioned Symbols
EURUSD 24% | 17 AUDUSD 12% | 9 EURGBP 5% | 4 NZDUSD 5% | 4
USDJPY: USDJPY Gathers Momentum on Approach to Key Resistance
58 0 4
USDJPY, D
USDJPY Gathers Momentum on Approach to Key Resistance

A daily close above 113.15 would expose the May and July highs near 114.35. Beyond that we have 115.40, a level that served as a pivot between December of 2016 and March of this year. I’m going to stand aside for now and wait for a clear signal. The yen pairs have been difficult to read lately which warrants an extra dose of patience. The most notable event ...

dailypriceaction dailypriceaction PRO USDCHF, D, Long ,
USDCHF: USDCHF Rallies Back to 2017 Resistance
61 0 4
USDCHF, D Long
USDCHF Rallies Back to 2017 Resistance

It’s going to take a daily close (5 pm EST) above it to open the door to upside targets. The first being the April and May highs near 1.0100. For those keeping track, the trend line in question appears to come in at 0.9810 at the time of this writing. A close above it would have us watching for a buying opportunity on a retest of the level as new support. Notice ...

EURJPY: EURJPY Retests Key Support at 131.84
46 0 6
EURJPY, D
EURJPY Retests Key Support at 131.84

A daily close (5 pm EST) below 131.84 would suggest that a pullback to the confluence of support at 128.40 is likely. Such a breakdown would have us watching for a sell signal on a retest of the level as new resistance. Alternatively, a move above the current 2017 high at 134.40 would indicate that bullish momentum is alive and well. Source: http://bit.ly/2ggayd4

dailypriceaction dailypriceaction PRO EURUSD, D, Short ,
EURUSD: Weekly Forex Forecast (October 16 – 20, 2017)
105 0 6
EURUSD, D Short
Weekly Forex Forecast (October 16 – 20, 2017)

EURUSD bulls look ready to capitulate following an impressive run so far in 2017. The 1,750 pip rally that began with the January 3 low is the longest since before the mid-2014 landslide that cost the pair 3,500 pips. We’ve been following this ascending channel (see chart below) for more than a month now. The bearish pin bar that formed at 1.2040 was the first ...

dailypriceaction dailypriceaction PRO EURGBP, D, Short ,
EURGBP: EURGBP Fails to Retake 0.8980
44 0 7
EURGBP, D Short
EURGBP Fails to Retake 0.8980

From here I favor a move back toward the September low at 0.8744. A break below that would target the 0.8600 handle and perhaps even the current 2017 lows near 0.8370. Keep in mind that all of this is unfolding following the break of channel support on September 12. That was a significant breakdown in the sense that it ended the uptrend which began in May. The ...

dailypriceaction dailypriceaction PRO GBPUSD, D, Short ,
GBPUSD: GBPUSD Targets Confluence of Support at 1.3020
125 0 5
GBPUSD, D Short
GBPUSD Targets Confluence of Support at 1.3020

If you’re still on the sideline, the best approach might be to wait for a daily close (5 pm EST) below the confluence of support at 1.3020. Such a close would expose the August low at 1.2770. A break below that would target the June lows near 1.2615. The longer-term target for an ascending channel is usually the pattern’s low. In the case of the GBPUSD, that ...

EURUSD: EURUSD to Face New Round of Selling Pressure Below 1.1875
127 0 14
EURUSD, D
EURUSD to Face New Round of Selling Pressure Below 1.1875

A study of the daily time frame shows what could be the formation of a head and shoulders pattern. The left shoulder developed in early August while the head of the structure was carved out between August 29 and September 22. Whether or not the pair forms the right shoulder is anyone’s guess. Furthermore, without a daily close below 1.1670, we can’t technically ...

USDCHF: USDCHF Rolls Over Following Test of Key Resistance
45 0 4
USDCHF, D
USDCHF Rolls Over Following Test of Key Resistance

If sellers secure a close back below horizontal support at 0.9770, we could see the pair slide back toward 0.9435. On the other hand, a close above trend line resistance near 0.9800/20 would suggest a continuation of the September rally and expose key resistance at 1.0100. Keep in mind that the USDCHF is coming off of multi-year range support at 0.9435. The ...

EURUSD: Weekly Forex Forecast (October 9 – 13, 2017)
57 0 6
EURUSD, D
Weekly Forex Forecast (October 9 – 13, 2017)

The EURUSD lost ground for the second week in a row. This was the likely scenario given the September 25th close below long-term channel support near 1.1900. Another probability that we discussed last week was that the 1.1670 area would attract bids if tested. It’s the August low and a level that served as a pivot between the 21st and 28th of July. Friday’s low ...

EURJPY: EURJPY Teeters on the Edge of Key Support
38 0 3
EURJPY, D
EURJPY Teeters on the Edge of Key Support

That intersection at 128.40 will be my target should we get a favorable short setup. Keep in mind that non-farm payroll is out in just a few minutes at 8:30 am EST. As such, I’m going to wait for the dust to settle following the event before considering an entry. I also want to wait until next week. Taking a position on a Friday carries more risk due to the ...

EURGBP: EURGBP: Keep These Two Resistance Levels on Your Radar
50 0 3
EURGBP, D
EURGBP: Keep These Two Resistance Levels on Your Radar

In the near term, the 0.8925 area will likely attract an influx of offers. Any bearish price action from here could provide an attractive short setup. However, I have a sneaking suspicion that bulls want to take prices to 0.8980. This area served as resistance back in late July and subsequently attracted bids on the 12th and 13th of September. I’m going to hold ...

USDJPY: USDJPY Tests Confluence of Resistance at 113.00
87 0 7
USDJPY, D
USDJPY Tests Confluence of Resistance at 113.00

From a technical standpoint, I’m only concerned with where each session closes at 5 pm EST. Trading anything else would open the door to false breaks. Look no further than last week’s failed intraday breakouts above trend line resistance. It’s going to take a daily close (5 pm EST) above 113.15 resistance to extend the current rally. Such a break would expose the ...

EURUSD: Weekly Forex Forecast (October 2 – 6, 2017)
75 0 6
EURUSD, D
Weekly Forex Forecast (October 2 – 6, 2017)

EURUSD bears finally managed a daily close (5 pm EST) below channel support last week. We have discussed the potential for a shift lower since the pair carved out the September 8th bearish pin bar from 1.2040. Monday’s close of 1.1845 broke channel support along with the 1.1875 horizontal support area. Sellers took control of the following two sessions until ...

USDCHF: USDCHF: Daily Close Above 0.9800 Needed to Extend Gains
35 0 6
USDCHF, D
USDCHF: Daily Close Above 0.9800 Needed to Extend Gains

There are two key levels I’m keeping an eye on at the moment. The first is the horizontal level at 0.9770. The area has capped every advance since the pair closed below it on May 19th. It’s also the 38.2% Fibonacci retracement when measuring from the December 2016 high to the current 2017 low. The second level of interest is the trend line that extends from the ...

dailypriceaction dailypriceaction PRO USDCAD, D, Long ,
USDCAD: USDCAD Breaks Key Resistance, Targets 1.2770
102 0 6
USDCAD, D Long
USDCAD Breaks Key Resistance, Targets 1.2770

The plan from here is straightforward. Any retest of the 1.2420 area as new support could produce a favorable buying opportunity. I’m going to stand aside and let the pair mean revert before watching for bullish price action from the 1.2420 area. As long as buyers keep prices above the 1.2420 mark on a daily closing basis, 1.2770 is the target. Alternatively, a ...

GBPUSD: GBPUSD Rally at Risk Below 1.3445
44 0 7
GBPUSD, D
GBPUSD Rally at Risk Below 1.3445

In the most recent weekly forecast, I mentioned that a close below 1.3445 or above 1.3600 could trigger the next move. So far, it appears sellers are eager to drive the price back below the 1.3445 region. That said, without the daily close at 5 pm EST, we don’t have the confirmation needed to act. Furthermore, Janet Yellen is scheduled to speak in the next few ...

dailypriceaction dailypriceaction PRO EURUSD, D, Short ,
EURUSD: EURUSD Breaks Confluence of Support on Intraday Basis
72 0 7
EURUSD, D Short
EURUSD Breaks Confluence of Support on Intraday Basis

A daily close (5 pm EST) below 1.1875 would also expose the August lows near 1.1670. A break there would pave the way for a move toward the mid-July pivot at 1.1490. As always, what happens on the intraday charts doesn’t mean much. Today’s close at 5 pm EST will tell the real story; it will be a crucial one for both buyers and sellers. I remain short from just ...

AUDUSD: Weekly Forex Forecast (September 25 – 29, 2017)
67 0 7
AUDUSD, D
Weekly Forex Forecast (September 25 – 29, 2017)

We have been tracking this ascending trend line on the AUDUSD for several weeks. The first mention was on September 14, just days after the bearish pin bar formed at 0.8065 resistance. Then on Thursday of last week, the pair closed the session below trend line support that extends from the June low. This confirmed the break and established a potential selling ...

Show More Ideas 1234
Last visit
6
0
28
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
1
0
5
Message Follow Following Unfollow
Last visit
3
0
15
Message Follow Following Unfollow
Last visit
11
0
50
Message Follow Following Unfollow
12
0
43
Message Follow Following Unfollow
Last visit
2
0
10
Message Follow Following Unfollow
Last visit
8
0
45
Message Follow Following Unfollow
Last visit
10
0
45
Message Follow Following Unfollow
Last visit
1
0
5
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
26
117
736
Message Follow Following Unfollow
Last visit
1
0
5
Message Follow Following Unfollow
Last visit
8
4
103
Message Follow Following Unfollow
Last visit
0
0
0
Message Follow Following Unfollow
Last visit
0
5
42
Message Follow Following Unfollow
User follows nobody
User has no following symbols
Market
Browse
Type
Browse
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out