Potential for More Losses in GBPUSD and S&P 500, 29th September 2014

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Trading Setups / Chart in Focus:

Note: We Use ‘New York Close Charts’Get Our Preferred Charts & Trading Platform Here.

GBPUSD – Sterling/dollar bearish bias remains

The GBPUSD continues to look weak and we’ve been consistent in our bearish bias and will maintain it whilst this market is contained below key resistance up near 1.6525 / the high of the long-tailed bearish bar from two weeks ago. This week, we will look to be sellers on strength whilst price is below that 1.6525 level, and traders not already short from the inside bar signal we discussed in our September 24th commentary can look for an intra-day or daily chart price action sell signal up near 1.6400 this week if price retraces higher.

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S&P 500 – Potential for more losses

The S&P 500 remains under pressure following the fakey / false break pattern up near 2,000 that we discussed in recent commentaries. The market looks like it wants to move down to the low side of its current range, down near 1890.00 / the low from August 8th. We are looking to sell rallies whilst below key resistance up near 2,000 and traders can watch for a price action sell signal up near 1992.00 which was the swing high from last week. Our mid-term view is that the market could roll-over and re-test the support down near 1890.00 before another significant bounce higher occurs.

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In this today’s members daily trade setups newsletter, we will discuss in more detail our plan for the EURUSD this week, where the GBPUSD might be headed to next, the AUDUSD bearish trend and upcoming support levels, another potential selling opportunity in Gold, an S&P potential selling opportunity and more. To learn about becoming a member, click here.

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Fundamental Commentary & Upcoming Economic News

Forex Commentary:

In the currency markets today, the U.S. dollar rally took a breather on jitters over Beijing’s response to democracy protests in Hong Kong and worries it might hurt the region’s economy.

The U.S. dollar hit a 6-year high against the Japanese yen in Asian trading and the U.S. Dollar index move up to a 4-year high prior to falling back on worries about Hong Kong and declines on Wall Street

Other Markets:

In the U.S. markets today, stocks opened sharply lower but rebounded later in the day to pare losses.

The Dow lost 41.93 points or 0.25%, the S&P 500 lost 5.05 points or 0.25%, and the Nasdaq lost 6.34 points or 0.14%.

Upcoming important economic announcements (New York time): 9/29/2014

All Day – Euro-zone – German Prelim CPI m/m
8:00pm EST: New Zealand – ANZ Business Confidence
9:45pm EST: China – HSBC Final Manufacturing PMI

9/30/2014

4:30am EST: Britain – Current Account
5:00am EST: Euro-zone – CPI Flash Estimate y/y
8:30am EST: Canada – GDP m/m
10:00am EST: United States – CB Consumer Confidence
9:00pm EST: China – Manufacturing PMI
9:30pm EST: Australia – Retail Sales m/m

Special Note - During September Get 35% Off Life-Time Membership To Nial's Forex Courses, Daily Trade Setups Newsletter, Live Trading Forum & Email Support Line - Click Here.
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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 15,000+ students since 2008. Checkout Nial’s Forex Course here.

Previous Posts

Weekly Forex Market Price Action Outlook – September 29th – October 3rd 2014

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Weekly Forex Market Price Action Outlook – September 29th – October 3rd 2014 Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. EURUSD - Euro/dollar bearish trend continues following bearish pin bar The EURUSD continued falling lower last... Continue Reading

GBPUSD Moving Lower Again after Inside Bar Signal, 26th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. GBPUSD – Sterling/dollar resumes bearish momentum The GBPUSD fell modestly lower over the last two days following the inside bar sell signal that we... Continue Reading

AUDUSD Sell-Off Continues, S&P 500 Falls, 25th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. AUDUSD - Aussie/dollar keeps falling The AUDUSD continues to sell off and we don’t see any reason to think it will stop anytime soon. The next key support... Continue Reading

EURUSD Falls From Pin bar Signal, GBPUSD Inside Bar Pattern, 24th September 2014

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Trading Setups / Chart in Focus: EURUSD – Euro/dollar downtrend continues after bearish pin bar The EURUSD continued falling lower today following the bearish pin bar showing rejection of the 8 day EMA dynamic resistance which we discussed in our September 23rd commentary. We expect this... Continue Reading

EURUSD Potential for More Losses, S&P 500 Outlook, 23rd September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. EURUSD – Euro/dollar downtrend continues The EURUSD pared early-session gains today to form a bearish pin bar. This pin bar is at the bottom of the recent... Continue Reading

GBPUSD Potential Short Trade Setting Up, 22nd September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. GBPUSD – Sterling/dollar bearish bias remains whilst below containment area The GBPUSD rotated slightly higher today as it retraced up on last Friday’s... Continue Reading

Weekly Forex Market Price Action Outlook – September 22nd – 26th 2014

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Weekly Forex Market Price Action Outlook – September 22nd - 26th 2014 Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. The EURUSD continued falling lower on Friday as the downtrend rolls on. This week, we see key support at 1.2750 and price... Continue Reading

GBPUSD Volatile Following Scotland Vote, Gives Up Gains, 19th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. GBPUSD – Sterling/dollar reverses gains following Scotland vote The GBPUSD initially surged higher today as Scotland voted to remain in the UK. However,... Continue Reading

Waiting For AUDUSD Buy Signal, Hong Kong Index Approaching Support – 18th...

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. AUDUSD – Aussie/dollar moving toward key support, looking for buy signal Whilst the AUDUSD is in a downward run right now, there is key support approaching... Continue Reading

All Eyes on GBPUSD Ahead of Scotland Elections – 17th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. GBPUSD – Expecting volatility in the Sterling/dollar ahead of Scotland Elections The GBPUSD did form a bearish pin bar today but due to upcoming expected... Continue Reading

Crude Oil Pushes Higher From Pin Bar Buy Signal, 16th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Crude Oil – Price pushes higher from pin bar buy signal The Crude Oil market pushed higher today from the pin bar buy signal we discussed in our members... Continue Reading

Weekly Forex Market Price Action Outlook – September 15th – 19th 2014

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Weekly Forex Market Price Action Outlook – September 15th - 19th 2014 Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. EURUSD - Euro/dollar consolidates after sell-off, waiting for sell signal The euro and British pound have fallen... Continue Reading

AUDUSD Continues Getting Battered, USDCAD Update, 12th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. AUDUSD - Aussie/dollar losses continue, looking for sell signal The AUDUSD continued moving lower today as the sell-off continued. You can see in the weekly... Continue Reading

Gold Falls into Key Support, AUDUSD Bearish Trend Continues, 11th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Gold - Gold bearish move continues, tests key support The spot Gold market fell lower today and tested the key support that we’ve discussed in recent... Continue Reading

EURUSD Bearish Trend Intact, Waiting for Sell Signal, 10th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. EURUSD – Euro/dollar downtrend intact The EURUSD lost slight ground today but did pare some of its losses into the close and the downtrend remains intact.... Continue Reading

AUDUSD Sells Off, USDCAD Bullish Run Continues, 9th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. AUDUSD – Aussie/dollar continues falling, hits support The AUDUSD fell significantly lower over the past two days after stalling and reversing up near... Continue Reading

Weekly Forex Market Price Action Outlook – September 8th – 12th 2014

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Weekly Forex Market Price Action Outlook – September 8th – 12th 2014 Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. *UPDATE*: GBPUSD - Sterling/dollar gaps lower following Scotland news The recent developments with Scotland holding... Continue Reading

Gold Sell Signals Paying Dividends, 4th September 2014

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Gold – Spot Gold continues to weaken following sell signals The spot Gold market has now made a nice move lower following the coiling inside bars sell... Continue Reading

Gold Falls From Inside Bar Signal, AUDUSD and USDCAD Trade Updates, 2nd...

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Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Gold – Gold breaks down from inside bar setup Today, the spot Gold market broke down from the coiling inside bar setup that we discussed in our members’... Continue Reading

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