Save 25% Off Life-Time Membership To Nial Fuller's Pro Trading Course & Trade Ideas Newsletter, Ends November 30th -
Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Forex Trade Ideas & Chart Analysis by Nial Fuller – November 5th to 9th, 2018

author thumb
By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | 5 Comments

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 – November 5th to 9th, 2018

TECHNICAL PRICE ACTION ANALYSIS:

All charts illustrated are daily chart time-frames unless marked otherwise.

EURUSD – Still contained under 1.1535

Summary: Price has now broken below both 1.1615 and 1.1535 support zones, activating a short term bearish leg lower. Price remains contained under the 1.1535 to 1.1615 resistance area and thus we continue to prefer selling short on strength whilst that resistance range holds firm.

Price has broken down has reached the major support at 1.1298 and rallied late last week and is now approaching resistance at 1.1535 again. Watch for price action sell signals on strength.

Trade Idea: Consider selling short on any short term strength whilst price is below 1.1535 key resistance level. Targeting a move to 1.1298.

USDJPY – Bullish above 112.05

Summary: The market is grinding higher after forming a base around 112.05 support, likely targeting a move back towards the old high around 114.50’s

The fakey discussed prior has triggered after prices took out the high of the mother bar of the fakey pattern. We continue to prefer buying on any price dips whilst price is atop the 112.05 support level.

Trade Idea: Consider buying on the dips whilst prices are above the 112.05 support area, targeting a move back to 113.18 and then 114.50’s (recent highs).

NZDUSD – Bearish under 0.6750

Summary: Long term down trend remains in tact with nearby resistance at 0.6705 and 0.6850.

Price moved up last week and formed a pin bar right at resistance. Expect sell pressure to continue whilst price remains contained under the 0.6705 to 0.6850 major resistance area. We prefer selling on any pockets of strength or waiting for a clear sell signal.

Trade Idea: Consider selling short on any price strength whilst price remains under the 0.6705 resistance level, or wait for another price action sell signal on 4 hour or daily chart to confirm an entry.

GOLD (Spot Gold) – Bullish above $1215

Summary: Prices remains in a short term bullish upward swing after having reconnected back above the short term resistance at the $1205 – $1215 zone and are staging a recovery.

Price surges higher from the $1215 support we had been discussing for the past few weeks. The bias remains bullish and thus traders can consider watching the $1215 support area for buying opportunities on any pull backs (old resistance now support).

Trade Idea: If not already long, consider waiting for a bullish price action signal whilst price is above the $1215 support level, targeting a move back to $1237 and possibly $1265.

WANT TRADE IDEAS EVERY DAY ? – Our Members Get Daily Trade Ideas & Analysis On 10 Markets 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. Eric November 7, 2018 at 4:38 pm

    I just discovered this site a few days ago, and I already love the sincerity and reality with which everything is displayed. congratulations

    Reply
  2. DERRICK November 6, 2018 at 5:27 pm

    i think is even not worthy trading without using the new york close charts

    Reply
  3. Austine November 6, 2018 at 11:19 am

    With a mentor like Nial, there is a guaranteed peace trading forex

    Reply
  4. Zzz November 6, 2018 at 5:40 am

    Just found out about this last week and love the analysis. I look forward to seeing your charts every week and very excited to buy your course in the future, maybe December.

    Reply
  5. Itx_saeed November 6, 2018 at 1:45 am

    Thanks for the analysis Nial, you are such a good mentor.

    Reply

Leave a Comment

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