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NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – July 17th to 21st 2017

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By in Forex Trading Commentary Last updated on | 5 Comments
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GBPUSD – Sterling/dollar explodes higher, closes above resistance levels

The GBPUSD exploded higher last week as the bullish track continued in this market. This latest upward move came after price retraced to 1.2820 support (a level we discussed extensively last week in our members area) and bounced higher from there. There’s a key zone of support between 1.2970 – 1.2820 and we can watch that area this week to be a buyer if price pulls back down to it. We remain bullish whilst above 1.2600 key support.

EURUSD – Euro/dollar remains buoyant, grinds higher

The EURUSD moved slightly higher last week after a modest rotation lower. This pair is still remaining buoyant above support at the 21 day ema and 1.1290 area. Support remains at 1.1290 and key support down at 1.1118 area and we are still looking for buy signals to rejoin the uptrend on any weakness. Overall, this market looks to be swinging up towards the long-term key resistance at 1.1500 to 1.1600 area.

AUDUSD – Aussie/dollar surges up to test key resistance after pull back to support

After beginning last week near 0.7570 – 0.7600 support, the AUDUSD ended near the week’s highs at 0.7835, following a dramatic surge higher. It is wise to note that before last week’s up move, the trend was technically bullish and price had recently pulled back to that 0.7600 support area (check out my article on trading from pull backs in price). From here, we can watch for further pull backs to potentially buy this pair again on any weakness this week. But, we will have to wait and see what happens this week as price is currently sitting at a key long-term resistance level near 0.7835, so definitely wait for a pull back to support levels before looking to buy.

GOLD – Gold pushes higher after bullish pin bar at support

Gold moved higher last week following a bullish pin bar on Monday that formed at support near 1200.00; a level we had been looking to buy from recently. We discussed this pin bar in-depth in our members trade setups commentary as a potential buying opportunity early last week and we can see that price followed through nicely to the upside on Friday. Traders can potentially look for another buying opportunity in Gold this week on a retrace lower whilst above 1214.00 area. Resistance is at 1240.00; a level we could consider selling at on a signal if price tests it in the coming days.

S&P500 – S&P500 hits new all-time highs as uptrend continues

The S&P500 pushed higher last week following a bullish pin bar that formed on Tuesday. Price has cleared has cleared all recent key resistance levels and closed above them, showing the strength and conviction bulls still have in this market. At this point, we can watch for 1 hour, 4 hour or daily chart buy signals on any weakness whilst above 2400.00.

Want More Trade Setups Ideas & 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.

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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. Mike August 15, 2017 at 1:28 am

    Thanks for your correction on AUDUSD, and EURUSD where I was still on the reverse hopping it would come down further.

    Reply
  2. sibusiso August 14, 2017 at 6:17 pm

    Another job well done. Thanks man.

    Reply
  3. Timbuktu Stonch Ughadinjo August 14, 2017 at 10:04 am

    your charts and it’s analysis is the clearest thing and the best tool to any trader in the fore market. you have not only encouraged me but has enriched me with knowledge and direction in my trading career. I can only be grateful.

    Reply
  4. Simon Rokie Cete July 28, 2017 at 12:27 am

    Id like to know more about traiding,and become a full member.

    Reply
  5. Sam July 17, 2017 at 6:32 pm

    Great post

    Reply

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