Learn To Trade Price Action with Nial Fuller...
PRICE ACTION FOREX TRADING COURSE
Forex Commentary:
The U.S. dollar was mixed today, losing ground to the Euro, Canadian dollar, Swiss franc, New Zealand dollar and Japanese yen, while gaining modest ground against the British pound and Australian dollar.
The Swiss franc has been significantly stronger against most of the other majors this year, closing the year at or near its highs against the U.S. dollar, Euro, British pound, and Japanese yen.
Trading Setups / Chart in Focus:
Silver
Silver has out-performed nearly every market this year, closing the year up almost 100% after closing last year around $16.00 an ounce and closing this year around $30.00 an ounce.
Notice how the most recent push to re-test and break the all-time highs was kicked off by a bullish fakey setup off value at the 21 day ema.
In the monthly chart we can see that back in February we had a solid bullish pin bar that was in-line with the uptrend already in place. The silver market over the last year is proof that using price action to enter the market can get you early entries into very lucrative moves.
Daily Chart:
Monthly Chart:
For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my price action forex trading course.
Other Markets:
On Wall Street today U.S. stocks closed down slightly as a slew of better than expected economic data wasn’t quite enough to persuade bulls to take on new risk in a market sitting on strong gains just before the new year.
The Dow was down 15.67 points, or 0.14 percent, the S&P 500 lost 1.86 points, or 0.15 percent, and the Nasdaq lost 3.95 points, or 0.15 percent.
Upcoming important economic announcements: 12/31
All day: Euro-Zone – German Bank Holiday
2:00am EST: Britain – Nationwide HPI m/m
8:00pm EST: China – Manufacturing PMI
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