Christmas Special: Save 40% Off Nial Fuller's Professional Trading Course & Daily Trade Ideas Newsletter, Ends December 31st -
Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Forex Trade Ideas & Chart Analysis by Nial Fuller – Dec 3rd to 7th, 2018

author thumb
By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | One Comment

Note On Charts: It’s imperative to your trading success that you are trading with a broker that offers ‘New York Close Forex Charts‘, (a true 5 day chart that aligns with the New York Close).
You Can Download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

Chart Commentary Disclaimer: Nial’s views on the Charts is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this newsletter, do your own research and be aware of the risks and rewards.

Weekly Forex Trade Ideas & Chart Analysis by Nial Fuller – Dec 3rd to 7th, 2018

TECHNICAL PRICE ACTION ANALYSIS:

All charts illustrated are daily candlestick charts unless marked otherwise.

EURUSD 

Summary: Price remains bearish whilst under the 1.1455 to 1.1530 resistance area, which is also an event area ever since the prior bearish pin bar activated. We continue to prefer selling short on strength whilst that resistance holds firm.

Potential Trade Idea: Consider selling short on any short term strength whilst price is below the 1.1455 to 1.1530 key resistance area. Targeting a move to 1.1298 and potentially lower.

GBPUSD 

Summary: Price remains in a broader range between 1.2660 and 1.3295. There is also a key resistance area in the middle of the range around the 1.2920 to 1.3020 zone. Last week price rejected lower from the 1.2920 key resistance level and collapses back towards the recent lows around 1.2700 area. We prefer to sell on strength or on a price action sell signal from near or under 1.2920.

Potential Trade Idea: Consider short selling on any bounce, or on a price action sell signal from near or under 1.2920 resistance. Targets mid 1.2700’s initially.

AUDUSD

Summary: Price has found some support several times at 0.7207 recently, with prices now butting right up against 0.7320. If prices break out above 0.7320, we could see the market push towards 0.7470 resistance before stalling.

Potential Trade Idea: Considering waiting for a bullish price action signal at or above 0.7207, targetting 0.7320 and 0.7470.

GOLD (Spot Gold)

Summary:  Price continues to be supported above the $1205 to $1215 support region, testing this region last week and bouncing strongly. Price is trapped in a range between $1205 and $1327.

Potential Trade Idea: Consider waiting for a very clear bullish price action signal within the $1205 to $1215 support area, targeting a move back to $1237 and possibly $1265.

S&P 500 USA

Summary:  Sideways trading range developing. Major resistance at 2790 to 2860 area. Major support sits at 2650-90  area and 2550. Price bounced from the lower side of a technical range around 2630 last week and has drifter back towards the high of the range around 2790. We still prefer selling short on any pockets of strength whilst prices are contained below the 2790 to 2860 resistance area. Targeting a move back down to 2600-2630 initially.

Potential Trade Idea: Traders can consider selling short on a clear sell signal on the 4 hour or daily chart around or just under the 2790 to 2860 resistance area. Targeting a move back to 2600-2630 area.

NOTE – We suggest traders avoid holding long positions (buys) over the weekend.

Members Get 10 Trade Ideas & Chart Analysis Every Day – Members of Nial Fuller’s trading education courses get access to the members daily trade setups ideas newsletter. You will get potential trade ideas and detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more, every trading day. For more info visit the Trading Course Membership Page Here.

Note: –  Download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

Leave A Comment Below 

About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. Patron December 3, 2018 at 5:41 pm

    Thanks alot for the analysis Mr. Fuller

    Reply

Leave a Comment

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