Get 35% Off Nial Fuller's Professional Forex Course & Daily Trade Setups Video Newsletter - Ends July 31st - 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.
————————————————————————————————————————————————————————–

Axitrader

Leave a Comment

Recent Posts in Trade Setups Commentary

Gold Threatening to Break Lower, AUDJPY Sell Signal, July 1st 2015

Posted on July 2nd, 2015 | by | in Forex Trading Commentary | No Comments
Gold Threatening to Break Lower, AUDJPY Sell Signal, July 1st 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: Gold - Spot Gold threatening to break down The spot Gold market lost ground today and formed an inside bar just below 1170.00 support that we’ve been... Continue Reading

What The Greek Crisis Means for Forex Traders

Posted on June 30th, 2015 | by | in Forex Trading Commentary | 1 Comment
What The Greek Crisis Means for Forex Traders
Most of you will no doubt be aware that Greek and euro-zone countries are in the midst of a debt crisis. Whilst the market has been aware of this situation that's been brewing for several years, it now appears that it's coming to a head and we may in fact see Greece default on its debt obligations.... Continue Reading

Weekly Forex Trade Setups Preview – June 29th to July 3rd 2015

Posted on June 29th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – June 29th to July 3rd 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar continues to weaken The EURUSD weakened last week after hitting resistance up near 1.1380 and repelling down from it. Price is currently sitting just above an important... Continue Reading

GBPJPY Bullish Run Continues From Pin Bar, 26th June 2015

Posted on June 27th, 2015 | by | in Forex Trading Commentary | No Comments
GBPJPY Bullish Run Continues From Pin Bar, 26th June 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Trading Setups / Chart in Focus: GBPJPY – Sterling/yen bullish trend continues The GBPJPY pulled back into the 8 day EMA dynamic support level this week, and in-line with our recent... Continue Reading

Crude Oil Grinding Higher, Will It Breakout? 24th June 2015

Posted on June 25th, 2015 | by | in Forex Trading Commentary | No Comments
Crude Oil Grinding Higher, Will It Breakout? 24th June 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Crude Oil looking strong Crude Oil continues to grind sideways to higher whilst in this trading range between 56.45 and 61.80 area. Price is beginning to look like it’s building some support /... 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