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

Forex Trade Setups Commentary: EURUSD Finds Resistance at 8 Day EMA, 22nd May 2012

Posted on May 23rd, 2012 | by | in Forex Trading Commentary | No Comments

Trading Setups / Chart in Focus:

EURUSD

The EURUSD fell significantly lower today after finding resistance at the 8 day EMA. Price is now once again hovering just above the key support near 1.2640 – 1.2620, if we move and close below that level we will probably see a large move lower as support below this level is scarce until about 1.1900. Traders can still look to sell this market on rotations higher into resistance on the intra-day or daily charts, pending price action confirmation.

1337728699-clip-13kb

Check out my latest trading lesson: How To Increase The Winning Probability Of Your Forex Trades

May 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 gave up 1 percent to the U.S. dollar, one day before a key meeting of euro-zone leaders to discuss the euro-zone debt crisis as fears grow that Greece will have to drop the euro.

The Japanese yen lost modest ground to the British pound and Canadian dollar and more significant ground to the greenback today as the greenback gained across the board; however the yen gained against the other majors today.

Other Markets:

In the U.S. markets today, stocks gave up gains into the New York close as hopes faded for an improvement in the euro-zone debt crisis.

The Dow lost 1.67 points, or 0.01 percent, the S&P 500 added 0.64 points, or 0.05 percent, and the Nasdaq lost 8.13 points, or 0.29 percent.

Upcoming important economic announcements (New York time): 5/23/2012

Tentative: Japan – BOJ Press Conference
4:30am EST: Britain – MPC Meeting Minutes
4:30am EST: Britain – Retail Sales m/m
All Day: Euro-zone – EU Economic Summit
8:30am EST: Canada – Core Retail Sales m/m
10:00am EST: United States – New Home Sales
10:00pm EST: New Zealand – Annual Budget Release
10:30pm EST: China – HSBC Flash Manufacturing PMI

Axitrader

Leave a Comment

Recent Posts in Trade Setups Commentary

EURUSD Selling Opportunity, Crude Oil Rolls Over, 27th May 2015

Posted on May 28th, 2015 | by | in Forex Trading Commentary | No Comments
EURUSD Selling Opportunity, Crude Oil Rolls Over, 27th May 2015
Trading Setups / Chart in Focus: Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD – Euro/dollar bears in control The EURUSD firmed up a bit today but clearly bears are in control of this market and we still see any rallies higher... Continue Reading

USDJPY Explodes Higher, Crude Oil Falls Lower, 26th May 2015

Posted on May 27th, 2015 | by | in Forex Trading Commentary | No Comments
USDJPY Explodes Higher, Crude Oil Falls Lower, 26th May 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here USDJPY - Dollar/yen explodes higher The USDJPY exploded higher today and closed well above recent key resistance levels. Last week, in our May 21st commentary, we discussed our views that this... Continue Reading

Weekly Forex Trade Setups Preview – May 25th – 29th 2015

Posted on May 25th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – May 25th – 29th 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar bearish momentum continues The EURUSD moved lower again last Friday to end the week at the lows and right at support near 1.1000. This market has resumed its long-term... Continue Reading

USDJPY Poised For More Upside – 21st May 2015

Posted on May 22nd, 2015 | by | in Forex Trading Commentary | No Comments
USDJPY Poised For More Upside – 21st May 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: USDJPY – Dollar/yen pushing higher The USDJPY has surged significantly higher this week after it has continued to hold above key support down near 118.50. We... Continue Reading

GBPJPY Trending Higher, Crude Oil Sell Signals – 20th May 2015

Posted on May 21st, 2015 | by | in Forex Trading Commentary | No Comments
GBPJPY Trending Higher, Crude Oil Sell Signals – 20th May 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: GBPJPY – Sterling/yen uptrend continues The GBPJPY has been on a strong run higher in recent weeks. Whilst it does look like it’s already had a good run,... 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=""> <s> <strike> <strong>

Nial's Professional Forex Trading Mastery Course    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 2008-2015 Learn To Trade The Market
legal