Learn To Trade Price Action with Nial Fuller...
PRICE ACTION FOREX TRADING COURSE
Trading Setups / Chart in Focus:
AUDUSD
The AUDUSD closed today basically unchanged as price attempted to rally but lost steam into the New York close. We are seeing weakness as the dominant theme in this market right now and will look to sell rallies back to resistance near the 8 / 21 day EMA layer pending price action confirmation.
NZDUSD
The Kiwi / Dollar is looking pretty weak as we can price has recently broke and closed below support near 0.7900 and the 8 / 21 day EMAs are crossed lower and diverging. We would look to sell on rallies into resistance. Watch the dynamic resistance layer between the 8 /21 day EMAs around 0.7900 for price action sell setups if price moves higher in the near-term.
Check out my latest Forex trading lesson: The Art of Trading Forex – Part 2
Forex Commentary:
In the currency markets today, the euro gained modest ground on the greenback but sentiment remains weak as uncertainty over the euro-zone debt crisis continues
The U.S. dollar was modestly weaker against the yen, Australian dollar and British pound, while gaining ground on the New Zealand dollar and Canadian dollar.
Other Markets:
In the U.S. markets today, stocks gained ground after yesterday’s large sell-off. The gains came on the back of no new negative news about Europe’s debt crisis and positive economic and corporate news.
The Dow added 113.07 points, or 0.96 percent, the S&P 500 gained 10.59 points, or 0.86 percent, and the Nasdaq added 3.50 points, or 0.13 percent.
Upcoming important economic announcements: 11/11/2011
4:30am EST: Britain – PPI Input m/m
9:55am EST: United States – Prelim UoM Consumer Sentiment
Nial Fuller Facebook
Nial Fuller Twitter
Nial Fuller LinkedIn
Nial Fuller YouTube
RSS Feed