Announcement: We Launched Our Brand New Daily Trade Setups 'Video Newsletter' Service - Click Here

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

Weekly Forex Price Action Chart Outlook for September 17th – September 21st 2012

Posted on September 17th, 2012 | by | in Forex Trading Commentary | No Comments

Weekly Forex Price Action Chart Outlook for September 17th – September 21st 2012

EURUSD

The EURUSD has been on a parabolic run recently as we can see from the daily chart below. Typically, after such a huge run higher we would expect some sort of retrace to the downside. However, as of right now we don’t see any obvious price action sell signals in this market to warrant a short entry against this strong uptrend. If the market continues higher, we do see some key resistance coming in near 1.3280 that would be a good level to watch for a potential 4 hour or daily chart sell signal. Otherwise, if the market rotates lower from current levels this week, we will look for price action buy signals from support to rejoin the uptrend.

1347823702-clip-20kb

GBPUSD

The GBPUSD has been on a parabolic run higher recently, similar to the EURUSD. We can see this market has run into a key level of long-term resistance as of last Friday. Traders should keep a close eye on the price action near current levels and slightly above into that resistance zone marked on the chart below. If we get a large 4 hour or daily chart price action sell signal forming there we could see a significant rotation lower before this market moves higher again. Then, we can watch the support levels marked below for potential buy signals to rejoin the uptrend in this market.

1347824321-clip-21kb

AUDUSD

The AUDUSD has made an impressive surge higher over the last seven trading days, moving up into the key resistance at 1.0612 last Friday. We can see that price pared gains on Friday and rejected that key 1.0612 resistance level, forming a counter-trend pin bar sell signal in the process. If this market can stay contained under this resistance early this week, we could see a move to the downside, perhaps into key support around 1.0400. If the market does move down into that support we would then look for price action buy signals forming there.

1347824707-clip-18kb

GBPJPY

The GBPJPY exploded higher last Friday and broke above key 125.50 resistance finally. We would note the bullish rejection pin bar setup that formed last Thursday showing rejection of the dynamic support from the 8 and 21 day EMAs, just before Friday’s surge higher. From here, we are interested in buying this market on a rotation to support, pending confirmation from an intra-day or daily chart price action signal. There’s some near-term support to watch near 126.20 and then key support is down near 125.50.

1347825347-clip-20kb

Check out my latest trading lesson: How To NOT Blow Up Your Trading Account

————————————————————————————————————————————————————————–
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.
————————————————————————————————————————————————————————–


Leave a Comment

Recent Posts in Trade Setups Commentary

Gold Could Move Lower In Coming Weeks, 5th March 2015

Posted on March 6th, 2015 | by | in Forex Trading Commentary | No Comments
Gold Could Move Lower In Coming Weeks, 5th March 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: Gold – Spot Gold weakens, more downside possible The spot Gold market reversed lower today after initially trying to push to the upside. This market is... Continue Reading

AUDUSD Holding Firm Above Support, Bullish Bias Intact, 3rd March 2015

Posted on March 4th, 2015 | by | in Forex Trading Commentary | No Comments
AUDUSD Holding Firm Above Support, Bullish Bias Intact, 3rd March 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: AUDUSD – Aussie/dollar holds firm above 0.7750 The AUDUSD held firm today as it re-tested support near 0.7750. Our bias and outlook remains the same on this... Continue Reading

USDJPY Moving Higher, Looking to Buy Pullback, 2nd March 2015

Posted on March 3rd, 2015 | by | in Forex Trading Commentary | 1 Comment
USDJPY Moving Higher, Looking to Buy Pullback, 2nd March 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 made a strong push higher recently and easily broke above the high of the bearish reversal bar from February... Continue Reading

Weekly Forex Trade Setups Preview – March 2nd – 6th 2015

Posted on March 2nd, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – March 2nd – 6th 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar breaks down through trading range support The EURUSD broke and closed below 1.1280 support last week, finally breaking free from its recent trading range between 1.1280 -... Continue Reading

EURUSD Falls as Bears Regain Control, 26th February 2015

Posted on February 27th, 2015 | by | in Forex Trading Commentary | No Comments
EURUSD Falls as Bears Regain Control, 26th February 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: EURUSD – Euro/dollar breaks lower The EURUSD broke lower today, down through 1.1280 support and has now ‘shown its hand’. We see 1.1400 – 1.1450 as the... 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