GBPUSD offered shorts an entry at 1.2498 early this week, but markets point to a more appealing risk-reward in the coming days. Get the details in today’s video, and see why the US Dollar Index (DXY) is pulling back today. Let’s get started! The post GBPUSD to Offer Better Entry for Shorts appeared first on Daily Price Action ..read more

EURUSD tried to break higher today, but bulls are starting to retreat with more downside in focus for the euro. In today’s video, I discuss how the November 1st candle on EURUSD and the US Dollar Index (DXY) could impact the next big move. See how I’m trading the EURUSD in the video below! The post EURUSD: How November 1st Ties Into the Next Big Opportunity appeared first on Daily Price Action ..read more

The Australian dollar (AUDUSD) broke below a significant level last week on the back of a stronger US dollar. Check out today’s analysis for the latest, including key AUDUSD levels, targets, and the latest on the US Dollar Index (DXY). Let’s get started! The post AUDUSD Breaks Into New 230 Pip Range appeared first on Daily Price Action ..read more

The US dollar rocketed higher last week on a hot CPI report, geopolitical concerns, and surging bond yields. So what does that mean for the DXY, EURUSD, GBPUSD, USDJPY, and XAUUSD next week? Find out in today’s Weekly Forex Forecast! The post Weekly Forex Forecast For April 15 – 19, 2024 appeared first on Daily Price Action ..read more

GBPUSD is getting hammered today on a stronger US dollar, something I warned against earlier in the week. In today’s video, I share exactly how I’m trading GBPUSD next week, including how low I think the pair could go this year. I also discuss the latest on the US Dollar Index (DXY), and why this week’s rally is built stronger than anything we’ve seen this year. The post GBPUSD Shorts Favored While Below 1.2500 appeared first on Daily Price Action ..read more

USDCAD broke out on Wednesday while the US Dollar Index (DXY) cleared a key level for the first time since November. But the bigger story for the US dollar is what’s happened with bond yields, and most traders don’t even know it’s happening. Get all the details in today’s video, including USDCAD key levels and targets, the latest on the DXY, and why this dollar rally is built differently! The post USDCAD: CPI-Fueled Breakout Supported by Bond Yields appeared first on Daily Price Action ..read more

The US Consumer Price Index (CPI) for March came in hotter than forecast today, sending the EURUSD crashing below support. But is it enough to confirm a short opportunity? Find out in today’s video, plus get the latest on the US Dollar Index (DXY). The post EURUSD Short Opportunity Following Hot US CPI? appeared first on Daily Price Action ..read more

A winning Forex trading plan should be the starting point for any journey to becoming a consistently profitable Forex trader. Yet unfortunately most traders don’t write one until they’ve blown a few accounts. Even then the task to write a trading plan often falls into the category of, “I’ll get to it when I have time”. So why do most traders […] The post Forex Trading Plan: Your 2024 Guide to Writing One appeared first on Daily Price Action ..read more

Becoming a successful Forex trader is a process, and a long one at that. It seems that around every corner there is a new method, technique or even a new element to our mental game that needs to be considered. This process produces an endless number of “signs” along the way that can help you […] The post 50 Signs You’ll Succeed as a Forex Trader appeared first on Daily Price Action ..read more

Of all the reversal patterns we can use in the Forex market, the rising and falling wedge patterns are two of my favorite. They can offer massive profits along with precise entries for the trader who uses patience to their advantage. One of the great things about this type of wedge pattern is that it typically carves […] The post Rising & Falling Wedge Patterns: The Complete Guide appeared first on Daily Price Action ..read more