January Special : Get 30% Off Nial Fuller's Price Action Forex Trading Course - Ends January 31st Click Here

Nial Fuller's Price Action Forex Trading Education Community - Learn, Trade, Profit

Gold Gets Smashed, NZDUSD Downtrend Continues, 20th June 2013

Posted on June 21st, 2013 | by | in Forex Trading Commentary | 1 Comment

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 Forex Trade Setups Preview – January 26th – 30th 2015

Posted on January 26th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – January 26th – 30th 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here GBPJPY - Sterling/dollar selling off The GBPJPY has weakened considerably in recent weeks and we could see more downside movement in the coming days if bears remain in control. I am personally... Continue Reading

USDJPY Strength Continues, Looking to Buy Pullbacks, 22nd January 2015

Posted on January 23rd, 2015 | by | in Forex Trading Commentary | No Comments
USDJPY Strength Continues, Looking to Buy Pullbacks, 22nd January 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Trading Setups / Chart in Focus: USDJPY – Dollar / yen stays buoyant after pushing up from key support The USDJPY has remained strong this week and price has pushed up and away from the key... Continue Reading

Bracing for EURUSD Volatility Ahead of ECB, Gold Update, 21st January 2015

Posted on January 22nd, 2015 | by | in Forex Trading Commentary | No Comments
Bracing for EURUSD Volatility Ahead of ECB, Gold Update, 21st January 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Trading Setups / Chart in Focus: EURUSD – Euro/dollar consolidating ahead of ECB meeting The EURUSD gained back modest ground today and price consolidated ahead of tomorrow’s European... Continue Reading

USDJPY Strength From Key Support Continues, 20th January 2015

Posted on January 21st, 2015 | by | in Forex Trading Commentary | No Comments
USDJPY Strength From Key Support Continues, 20th January 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Trading Setups / Chart in Focus: USDJPY – Dollar/yen strength continues from key support The USDJPY has continued to remain strong after bouncing up from key support down near 115.85 last... Continue Reading

Weekly Forex Trade Setups Preview – January 19th – 23rd 2015

Posted on January 19th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – January 19th – 23rd 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. EURUSD - Euro/dollar downtrend accelerates The EURUSD sold-off last Thursday and Friday, losing significant ground into the week's end as bears remain in control of this market. Whilst this... 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