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Nial Fuller

Professional Trader, Author & Trading Coach

Weekly Trade Ideas & Market Analysis by Nial Fuller – February 13th to 17th 2017

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EURUSD – Euro/dollar stays contained under key resistance area

The EURUSD fell modestly lower last week, following a small bearish fakey with pin bar that formed last week in the resistance zone between 1.0770 – 1.0875 area. The market ended last week right at the 1.0620 major support area, so there is a chance prices could bounce from here in the short-term. Overall, we see the potential for further declines in this pair whilst under the key resistance zone at 1.0770-1.0875. Traders can look to sell on strength this week, ideally up near 1.0770 area on a price action signal.

GBPUSD – Sterling/dollar upside potential remains after pin bar signal

The GBPUSD moved slightly higher last week, following the bullish pin bar / buy signal which formed last week and that we discussed in our February 7th commentary. Our view hasn’t changed; we can still look to be buyers whilst prices are above key support at 1.2400. However, a decisive close under 1.2400 – 1.2350 would open the door for more losses.

EURGBP – Euro/Pound remains weak under key resistance

The EURGBP tried to recover over the last two weeks, but as we can see below, bears came back in and held price down again.  Our downward bias remains whilst under 0.8850 key resistance, in-line with our view in recent weeks. Traders not already short can wait for another sell signal this week whilst prices are contained under 0.8850 resistance.

AUDUSD – Aussie/dollar remains buoyant, but key resistance looms

The AUDUSD consolidated last week, but did post a modest rally into Friday’s close. The support at the recent lows at 0.7520-40 is still significant in the short-term as the bulls continue to maintain control. Price can easily trade up into key long term resistance overhead near 0.7735-78 before experiencing any sell pressure. This week, traders could play longs from 0.7520-40 support and shorts from 0.7735-0.7778 resistance region.

Gold – Gold uptrend continues, more upside possible

Gold prices have found a nice bottom again at $1180 area recently. Notice price broke up above 1220.00 resistance last week, a level we mentioned in the weekly commentary recently. Price should remain buoyant and we could see further upside into $1250.00 this week and potentially $1300.00 in coming weeks. The market looks to have enough momentum to trade $50 to $100 higher in a short space of time towards $1300. Whilst above recent lows $1180.00, traders can look to buy weakness if and where possible this week. Stay tuned to our daily members trade setups commentary for more Gold updates.

S&P500 – S&P500 bullish run continues

For the S&P500, price pushed higher again last week, in-line with the long-term uptrend in this market. Prices remain very buoyant here, near the all-time highs, with no end in sight for the uptrend. Traders can still look to buy short term price dips whilst prices remain above short term key support near 2277.00.

SPI200 – Australian stock index surges higher after buy signal from support

In our previous weekly market analysis, we called the SPI200 (Australian stock index) a long (buy) at support at prior week’s lows around 5555, not a bad trade for those who had the gut to fade (trade against most recent market direction) the sell-off and go long. Following a nice bullish tailed reversal bar (buy signal) at that 5555 level early last week, price has moved up and closed above 5666 resistance. We see more upside possible this week, into 5760 resistance. Traders can look to buy on pullbacks whilst price remains above 5555 major support.

Want More Trade Setups Analysis ? In the members’ daily trade setups newsletter we discuss potential trade setups and provide detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more. For more information click here.

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.

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