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It’s been nearly two weeks since I last discussed the EURAUD, so I figured it’s time for an update. And although the pair hasn’t gone far since then, there have been a couple noteworthy developments. But first, I want to revisit the breakdown that occurred on August 3rd. If you’ve been following along these last …

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The EURUSD continued its bounce into the weekend following a relatively bullish Wednesday candle. I’ve mentioned the 1.1300 support area a few times in the last two weeks including August 9th and again last week. That 1.1300 area was also the target for my short from the 1.1600 area. It just so happens that Wednesday’s …

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I hope you’re enjoying your weekend. This week’s question comes from Kishon, who asks: How long does it take to become a profitable Forex trader? One year? Three years? Maybe five years or more? It’s a question everyone wants answered. I get that. Who wants to devote time and effort to something without having some …

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The EURCAD broke a significant level this week. On Tuesday I shared a chart that showed how sellers were on the verge of closing the pair below the head and shoulders neckline support. At the time the pair was trading at 1.4895 and hadn’t yet closed the day below the 1.4970 level. But instead of …

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Double tap to like, share with a friend and leave a comment to let me know what you think. 👍 EURCAD Sets Up for Next Week Following 1.4970 Retest The EURCAD broke a significant level this week. On Tuesday I shared a chart that showed how sellers were on the verge of closing the pair below the head and shoulders neckline support. At the time the pair was trading at 1.4895 and hadn’t yet closed the day below the 1.4970 level. But instead of attempting a late session rally, buyers threw in the towel and allowed the pair to drop even further into Tuesday’s close. The result was a 1.4809 print which left the EURCAD well below the former support area at 1.4970. It also confirmed what we had long suspected to be a head and shoulders reversal. Get the complete analysis here: http://bit.ly/2L0UFUK or visit the latest EURCAD story below my bio and swipe up.

The AUDNZD is once again surging through a key level I mentioned last Wednesday. At the time, the pair was trading near 1.0425 and still consolidating following the 400 pip drop that began in mid-May. As we discussed last week, the consolidation since late May hinted at a move higher. The way price action has been …

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Like several other currency pairs, the NZDUSD has been a bit stubborn since the beginning of June. This isn’t too surprising given that it’s vacation season for many, so things do tend to slow down this time of year. However, New Zealand dollar bulls have worked their way into a corner and are quickly running out of …

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EURUSD bulls once again tested the confluence of resistance last week but were unable to break through. The area lies between 1.1430 and 1.1450 and is the intersection of horizontal resistance and the trend line from the August 2015 high. Thursday’s rally triggered the second retest of this resistance area. For now, sellers are holding …

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Sure, you can start trading Forex with just $100. But the more important question is whether you should. Let's find the answer together in this post.

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The EURCAD is at a crossroads. On the one hand, the pair has been quite bullish since February, but on the other, sellers are forcing a retest of a long-standing trend line. The April 24th close above the trend line that extends from the December 2015 low triggered an explosive 600 pip rally that topped …

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On Tuesday we discussed how the AUDUSD rally was in jeopardy below 0.7620. This area is the intersection of former trend line support from the June 2nd low as well as several highs from last month. It’s also the 23.6% Fibonacci retracement when measuring from the May low at 0.7328 to the June high at …

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The AUDNZD started 2017 on a positive note. The 700 pip rally between January 31st and March 16th was the most aggressive since March of last year. However, recent losses have wiped out all of this year’s gains. And since early June the Australian dollar cross has been directionless and consolidating within a 200 pip …

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USDJPY bulls are on the move after losing 550 pips between May 11th and June 14th. In fact, buyers have struggled to do much of anything since December of last year when the pair topped out at 118.60. With Monday’s session closing above the 113.25 handle, we were watching for a subsequent close above the …

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The AUDUSD has been all over the map so far in 2017. The good news for traders, however, is that the pair has been moving in swings of several hundred pips, providing follow through to those who time their entries right. Not only that, but the price action for the last 12 months has been …

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The NZDUSD is right back to the confluence of support at 0.7290 just 14 hours into the new trading week. To be more precise, the level appears to be 0.7288 at the time of this writing. We discussed this area over the weekend as one to watch. At the moment, we are patiently waiting for a …

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After five weeks of consolidating, the EURUSD made another push higher last week. The pair closed above the 1.1290 area on Wednesday, exposing the next area of resistance at 1.1430/50. This was something we discussed in the previous weekly forecast. I also mentioned the significance of the confluence of resistance at 1.1430/50 during Thursday’s session. …

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