SPECIAL NOTE » Get 30% Off Life-Time Access to Nial Fuller's Forex Trading Course & Trading Newsletter - Ends May 31st - Click Here

Login

Trading Setups / Chart in Focus:

Gold – Gold market falls significantly lower

The spot Gold market fell dramatically lower today and broke right through that $1,335.00 – $1,320.00 support area that we discussed in Tuesday’s commentary. In our members’ commentary and trading forum recently, we’ve been discussing the possibility for a large sell-off to take place in the Gold market given the double bearish pin bars that formed on the weekly chart recently and the weakening price action on the daily chart. Many of our members were still short today from the fakey signal that we discussed back in our June 10th commentary, showing the power of patience and ‘set and forget trading’. From here, traders can continue watching for price action sell signals from resistance on any retrace higher in order to trade in-line with the downtrend.

xauusd

NZDUSD – Kiwi/dollar continues losing ground

The NZDUSD continued losing ground today and broke down past the support at 0.7760, closing the day just under that level. Note the market has lost significant ground since we first discussed the 4 hour fakey sell signal back in our June 14th commentary, showing the power of trading in-line with the daily chart trend from key levels. The downtrend is still clearly in control here and traders can look for price action sell signals to trade in-line with the trend on any rotations back up to resistance in the 8 / 21 day EMA resistance layer.

nzdusd

Want more commentary and trade ideas?– If you would like to receive more market commentary and trade setups, I publish a daily newsletter for members which includes more charts and analysis covering Forex, Indices and Commodities: Click Here

Check out my latest trading lesson: Trading Is a Game of Anticipation, Not Reaction

————————————————————————————————————————————————————————–
EOFY June Special Promotion: This month, I am offering a very special discount on lifetime access to my price action trading courses, members daily newsletter, trade setups forum, email support line & more. For more information Click Here.
————————————————————————————————————————————————————————–

Forex Commentary:

In the currency markets today, the U.S. dollar gained significant strength against the other majors again. The greenback pushed up to a two-week high against most of the other majors on the back of news that the Federal Reserve will begin to withdrawal its stimulus program this year if the U.S. economy continues to improve.

The greenback was up around 1 percent against the Japanese yen and gained about 0.6 percent on the euro. The Australian dollar hit a 33-month low versus the U.S. dollar today as data showed that China’s economy continues to slow. The New Zealand dollar was down about 1.8 percent against the greenback today.

Other Markets:

In the U.S. markets today, stocks sold-off and the S&P 500 posted its biggest daily loss since November 11, 2011 as investors grew increasingly concerned over the Federal Reserve’s plans to start scaling back its stimulus program later this year.

The Dow dropped 353.87 points, or 2.34 percent, the S&P 500 lost 40.74 points, or 2.50 percent, and the Nasdaq lost 78.57 points, or 2.27 percent.

Upcoming important economic announcements (New York time): 6/21/2013

2:35am EST: Japan – BOJ Gov Kuroda Speaks
8:30am EST: Canada – Core CPI m/m
8:30am EST: Canada – Core Retail Sales m/m


Leave a Comment

Recent Posts in Trade Setups Commentary

Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – May...

Posted on May 22nd, 2017 | by | in Forex Trading Commentary | No Comments
Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – May 22nd to 26th 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar bulls push prices higher The EURUSD exploded higher last week, in-line with our bullish bias that we have discussed in recent commentaries. We can watch for any retraces... Continue Reading

EURUSD and Gold Continue Higher After Pull-backs – May 17th 2017

Posted on May 18th, 2017 | by | in Forex Trading Commentary | No Comments
EURUSD and Gold Continue Higher After Pull-backs – May 17th 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD – Euro/dollar bounces after pulling back to support In our recent commentaries, we have been talking about buying the EURUSD on pull backs to support in order to get long and trade... Continue Reading

Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – May 15th...

Posted on May 15th, 2017 | by | in Forex Trading Commentary | No Comments
Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – May 15th to 19th 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar pulls back to near-term support The EURUSD pulled back to support near 1.0830 last week and bounced up from there into Friday's close. We have been watching this pair for a... Continue Reading

Weekly Trade Ideas & Market Analysis by Nial Fuller – May 8th to 12th...

Posted on May 8th, 2017 | by | in Forex Trading Commentary | 1 Comment
Weekly Trade Ideas & Market Analysis by Nial Fuller – May 8th to 12th 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Today is the French presidential election.. at the time of writing the analysis of the French election result was unknown, and that means increased volatility and that markets may make major... Continue Reading

Why I’m Looking To Sell AUD/USD and NZD/USD Pairs – May 3rd 2017

Posted on May 4th, 2017 | by | in Forex Trading Commentary | 4 Comments
Why I’m Looking To Sell AUD/USD and NZD/USD Pairs – May 3rd 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here AUDUSD - Aussie/dollar selling opportunity remains In our last AUDUSD commentary, we talked about looking to sell this pair on any strength, whilst price was contained under 0.7611. Notice in the... Continue Reading

Now I want to hear from you! - Click Here to Leave a Comment

4 Comments

  1. Sue says:

    Thanks Nial ya so lovely

  2. Adrian Fiorito says:

    Nial,
    when you say look for price action sell signals whilst price is “contained under” etc etc. do you mean wait for price to reach the nearest resistance level or trade any bearish price action signals whilst under this containment area?

  3. Santhosh says:

    Good information..

  4. Samuel says:

    Thank you Mr.Nial,you are always on point.

Leave a Comment

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

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.

legal
Copyright 2008-2017 Learn To Trade The Market