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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

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Forex Commentary:

The U.S. dollar rallied today as the euro slid to a new 2-month low on the back of fears that Portugal and Spain could join Ireland in needing bailouts to support their economies.

The greenback also put in a solid showing against the other majors today as did the Japanese yen.

Trading Setups / Chart in Focus:

AUDUSD

The AUDUSD is developing signs of at least a short-term top, we can see the 8 and 21 day emas have crossed lower and price has broken and closed below support near 0.9700.

We would look to sell counter-trend rallies on strength in this market pending confirmation by bearish price action setups, support levels come near 0.9400 and 0.9200.

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For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my forex trading course.

Other Markets:

On Wall Street today commodity related stocks led the broader market lower in what was a shortened post-holiday session. Investors unloaded risky assets on renewed concerns that euro-zone debt problems might spread.

The Dow lost 95.28 points, or 0.85 percent, the S&P 500 lost 8.95 points, or 0.75 percent, and the Nasdaq lost 8.56 points, or 0.34 percent.

Upcoming important economic announcements:

11/28

10:00pm EST: New Zealand – NBNZ Business Confidence

11/29

8:30pm EST: Australia – Building Approvals m/m

Recent

  1. Petrus July 31, 2017 at 3:15 pm

    Thank you.
    I would like to know your advice or suggestion on how swing traders who are using daily time frame dealing with gapping up or down that usually happen on Monday.

    Reply
  2. Samuel July 31, 2017 at 11:57 am

    Great analysis.. your insight into the market is always refreshing. Keep it up Neil

    Reply

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