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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – September 18th to 22nd 2017

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EURUSD – Euro/dollar pulls back to near-term support, uptrend intact

In the context of the overall uptrend that the EURUSD has been in since April of this year, the market pulled back to the downside last week, testing support at 1.1837 area for the second time in the last few weeks. Notice the two recent bullish tailed bars that have rejected that support recently as seen in the chart below; these are indications that buyers are holding their ground. As we have discussed in our recent commentaries, we are still looking to buy the EURUSD on weakness / pull backs and this week we are watching 1.1837 as a nearby buy level as well as the 21 day EMA. We remain bullish above 1.1660 key support and can look to target recent highs on any long entries.

GBPUSD – Sterling/dollar explodes higher as bulls take control

The GBPUSD broke out above 1.3265 key resistance in dramatic fashion last week as price exploded higher late in the week. Note the bullish pin bar buy signal which we discussed in our August 31st members trade setups commentary – price has moved significantly higher since then. Traders who are not already long can continue to wait for pull backs to support to get long, in-line with the uptrend and strong bullish momentum. Key resistance is not seen again until up near 1.4000 area which would be a potential target level for anyone long this market.

AUDUSD – Aussie/dollar pulling back but uptrend is healthy

The AUDUSD retraced to the downside last week in the context of the overall uptrend it is in. We are watching for a buy signal to get long, perhaps a little closer to 0.7870 – 0.7800 support zone this week. Note, 0.7800 is the upper limit of a large trading range price recently broke up and out of, so that level is a strong support now and whilst above it we are looking to be buyers. Ideally, we would get a strong 1 hour, 4 hour or daily chart price action buy signal before getting long this week, but if price reaches 0.7870 – 0.7800 we would also consider a blind buy entry within that support zone.

GOLD – Gold pulls back, looking for long entry into uptrend

Gold has pulled back modestly to the downside over the last week following another leg higher in the strong uptrend it has been in for months now. This week, we are looking to buy down near $1300.00 – $1275.00 in order to rejoin the uptrend from value / support. Until price moves below the recent pin bar low / swing low seen in the chart below, the bias is bullish and price has a good chance of moving up to retest $1370.00 – $1400.00 area. Note, price has moved significantly higher following the fakey pin bar buy signal which we recapped in our recent trading video on Gold.

S&P500 – S&P500 Stock Index hits fresh all-time highs

The S&P500 U.S. Stock Index has reached new highs after price broke above 2480 – 2488 recent resistance last week. This market continues to trend higher, so we want to look to buy it on any weakness / pull backs to support in the coming days. This week, we are watching 2480 and the 21 day EMA as strong potential buy levels if price rotates lower. Stay tuned to our daily members market commentary throughout the week for on-going updates on potential S&P500 buying opportunities.

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.

Note: Trading Course SpecialUntil October 31st, Save 35% 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.

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