Daily Forex price action analysis – 2016-07-20

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I am going to make this post quick as I have a busy day ahead. In today’s analysis I spot two potential daily/12 hour chart setups, one on EUR/USD, and the other on NZD/USD. Both of these setups are potential longs forming on strong support. Keep in mind that these candles have over 10 hours until they close, so by the time they close, these setups may not exist anymore. A potential setup does not equal an actual trade. We just need to wait and see with this one.

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On Saturday the 30th of July at 4:00pm UK time I will be holding a live training session. In this session I will be focusing on advanced support and resistance techniques. See all of those areas I use in the analysis above? The areas that show me where price will stall and potentially reverse…

… Well I want to teach you some advanced techniques for spotting, placing, and trading with those areas.

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How to use this price action analysis

If you are new to trading and do not know much about price action, check out my Forex trading strategy. And, you can also browse through my hours of price action webinar recordings here.