Christmas Special: Save 45% Off Nial Fuller's Trading Course & Daily Trade Setups Newsletter (Ends December 31st) -
Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

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

author thumb
By in Forex Trading Commentary Last updated on | 5 Comments
Note: Christmas Trading Course Special: Until December 31st, Save 45% Off Nial Fuller's Professional Trading Course, Daily Trade Setups Newsletter, Live Trading Forum & Email Coaching - Click Here.

Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here

EURUSD – Euro/dollar bounces up from key support level

The EURUSD consolidated last week, just above 1.0520 key support, before popping higher into Friday’s close, indicating that bulls may push prices higher this week. We see key resistance up near 1.0800- 1.0875, and we could see prices try to climb up and re-test that area this week, before falling again. Traders could potentially consider a short-term long play if we get a small retrace lower and then a price action buy signal, targeting 1.0800. If prices reach that aforementioned resistance zone, we would be looking for sell signals. Stay tuned to our members trade setups commentary this week for updates on potential trades in this pair.

USDJPY – Dollar/yen building momentum, looking to buy on a pull back

In the USDJPY last week, price moved up to the high side of the recent trading range at 115.30, exactly testing that level and a little above, before reversing on Friday forming a small bearish pin. Overall, this market is now quite bullish after hammering in several lows at 111.60-112.50 area. Price could see a short-term pull back this week and that could provide a short-term buying opportunity. This week, we see support between 112.50 – 113.70 and we prefer to look for a buy signal after a pull back.

GBPUSD – Sterling/dollar bears push prices lower

The GBPUSD sold-off last week, losing ground after breaking down from 1.2350 key level the previous week. Whilst below 1.2350, the bears have control. We can watch any short-term upside retraces for price action sell signals on the 1 hour, 4 hour or daily chart, to join the downtrend, targeting support down near 1.2000 area.

Crude – Crude Oil capitulates lower

Crude Oil sold-off big time last week, closing under 49.30 support. Now that price has failed to breakout and reversed back below support, we are moving to bearish on this chart and can look for sell signals from resistance following a retrace higher. We see key resistance up at the old support, near 50.70 – 51.00 and that is the ideal sell area for this week; look for sell signals there and check our daily trade setups newsletter for updates on Oil.

S&P500 – S&P500 bullish trend continues

In the S&P500, price has been in a very strong uptrend for months now, with no signs of the trend slowing. Last week, prices rotated lower / pulled back within the uptrend, bouncing at the 21 day ema (blue level) into last week’s close. 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 2336 and 2300.

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.

Note: Christmas Trading Course Special: Until December 31st, Save 45% Off Nial Fuller's Professional Trading Course, Daily Trade Setups Newsletter, Live Trading Forum & Email Coaching - 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. Checkout Nial's Professional Forex Course here.
  1. 许志勇 April 10, 2017 at 8:39 pm

    Thanks.

    Reply
  2. MEHDI April 10, 2017 at 6:50 pm

    hi Nail
    referring to gold chart,it is a good set up for taking short position. do you agree? although that is against the trend.

    Reply
  3. Moustafa fouad March 18, 2017 at 8:47 am

    Great set up usually

    Reply
  4. Jonathan March 16, 2017 at 8:27 am

    Thank you for the foresight of the market

    Reply
  5. Watson March 13, 2017 at 1:43 pm

    Thanks.

    Reply

Leave a Comment

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