May Special: Get 33% Off Nial Fuller's Professional Forex Course & Daily Trade Setups Video Newsletter - Ends May 31st - Click Here
Nial Fuller's Price Action Forex Trading Education Community - Learn, Trade, Profit
Axitrader

Market Commentary: Dow Jones Surges Higher and Crude Oil Update, 6th September 2012

Posted on September 7th, 2012 | by | in Forex Trading Commentary | No Comments

Trading Setups / Chart in Focus:

DJ30

The Dow Jones spot market moved sharply higher today on the back of an inside bar setup breakout. We can see this inside bar trading strategy formed yesterday just above the key support that runs through 12,950 area. Price rose all the way up to close just below the near-term resistance near 13,300, gaining 244 points on the day, or nearly 2 percent. After such a huge move it’s usually best to let the market cool off a bit and see if we can’t find a price action setup in the direction of the surge after a retrace lower into support.

1346972654-clip-18kb

WTI

The spot Crude Oil pin bar trade that we discussed in yesterday’s commentary did break higher early in Thursday’s trading session, however, price pared gains into the New York close to end the day lower as it formed an opposing bearish pin bar setup. The pin bar from Wednesday has still not been invalidated as price is still above its low, but clearly this market is choppy right now and we may not get any high-probability setups until we see a close outside of this recent consolidation range. We could see this consolidation continue if price rotates higher from current levels and fails to move lower.

1346973159-clip-18kb

Check out my latest trading lesson: The Forex Trader Vs The Forex Gambler

————————————————————————————————————————————————————————–
September Special Promotion- This month I’m offering a Special Discount on Lifetime membership to my Forex Course, Live Trade Setups Forum, Daily Trade Setups Newsletter, Email support line, and more. For more info visit the Forex Course Page Here.
————————————————————————————————————————————————————————–

Forex Commentary:

In the currency markets today, the euro moved to a two-month high versus the U.S. dollar on the back of a new plan by the European Central Bank which should help to stem the debt crisis in the euro-zone.

The U.S. dollar was lower against the other majors today, except for the Japanese yen which was today’s biggest loser out of the majors.

Other Markets:

In the U.S. markets today, stocks moved to multi-year highs on the back of a new bond-buying program in Europe that should work to contain the debt-crisis there.

The Dow added 244.52 points, or 1.87 percent, the S&P 500 added 28.68 points, or 2.04 percent, and the Nasdaq rose 65.12 points, or 2.12 percent.

Upcoming important economic announcements (New York time): 09/07/2012

3:00am EST: Switzerland – Foreign Currency Reserves
4:30am EST: Britain – Manufacturing Production m/m
4:30am EST: Britain – PPI Input m/m
8:30am EST: Canada – Building Permits m/m
8:30am EST: Canada – Employment Change
8:30am EST: Canada – Unemployment Rate
8:30am EST: United States – Non-Farm Employment Change
8:30am EST: United States – Unemployment Rate
10:00am EST: Canada – Ivey PMI


Leave a Comment

Recent Posts in Trade Setups Commentary

Weekly Forex Trade Setups Preview – May 4th – 8th 2015

Posted on May 4th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – May 4th – 8th 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here AUDUSD - Aussie/dollar, potential for more upside The AUDUSD has pulled back down into the support / buy zone between 0.7920 - 0.7840 that we discussed in our April 28th commentary last week. Our... Continue Reading

AUDUSD Retraces Into Buy Zone, Gold Sells-Off, 30th April 2015

Posted on May 1st, 2015 | by | in Forex Trading Commentary | No Comments
AUDUSD Retraces Into Buy Zone, Gold Sells-Off, 30th April 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here AUDUSD - Aussie/dollar rotates down into buy-zone The AUDUSD pulled back into the support / buy area today between 0.7920 - 0.7840 which we discussed in our April 28th commentary. Our view has... Continue Reading

AUDUSD Surges Higher on Strong Bullish Momentum, 28th April 2015

Posted on April 29th, 2015 | by | in Forex Trading Commentary | No Comments
AUDUSD Surges Higher on Strong Bullish Momentum, 28th April 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: AUDUSD - Aussie/dollar breaks out from trading range It looks like we have seen at least a short-term bottom in the AUDUSD following today’s strong breakout... Continue Reading

Weekly Forex Trade Setups Preview – April 27th – May 1st 2015

Posted on April 27th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – April 27th – May 1st 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar gains ground, but still contained under key resistance The EURUSD moved higher again last week but price is still contained under key resistance up near 1.1050. This key... Continue Reading

NZDUSD Falls From Pin Bars, Gold and EURUSD Updates, 23rd April 2015

Posted on April 24th, 2015 | by | in Forex Trading Commentary | No Comments
NZDUSD Falls From Pin Bars, Gold and EURUSD Updates, 23rd April 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: NZDUSD – Kiwi/dollar falls from pin bar sell signal The NZDUSD moved significantly lower today following the pin bar sell signal that we discussed in... Continue Reading

Leave a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Sign up for Free Videos & Trade Setups
   Close

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it's employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Copyright 2008-2014 Learn To Trade The Market
legal