MEMBERSHIP SPECIAL: Get 40% Off Life-Time Access to Nial Fuller's Professional Trading Course - Ends FEB 28th - Click Here

Login

Announcement: Nial Fuller Wins Million Dollar Forex Trader Contest - Read more.

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

EURUSD – Euro/dollar bulls trying to push prices higher

The EURUSD has built up momentum to just below 1.0670 key resistance, with a bullish daily pin bar reversal forming three days ago, as seen on the chart below. If price can break above that key resistance, we could see upside into 1.0875 area. That’s a higher risk trade, but one worth considering with a tight stop this week. However, given the long-term downtrend in place on this pair, we would also consider selling up near that 1.0875 key resistance level or slightly below on a price action sell signal.

GBPUSD – Sterling/dollar downtrend intact, but price at key support level

The GBPUSD consolidated last week, basically going nowhere and forming offsetting bullish and bearish pin bars. 1.2335 is still the key overhead level, and you can see that bearish pin bar from Thursday, in-line with the downtrend. However, we must also note that prices are testing the levels near 1.2100 that previously saw GBPUSD find strong support, so betting on any further downside here carries risk. We wouldn’t be fighting the trend just yet, but if a strong buy signal presented itself at this approaching support we would consider it a long position as well.

AUDUSD – Aussie/dollar bullish momentum builds, but approaching key resistance areas

The ‘line in the sand’ for AUDUSD sellers right now is 0.7505-0.7519 area. This resistance could attract sellers this week, however it’s important to note there is some strong bullish momentum behind the current up-leg and there is likely to be a ton of stop-loss orders above 0.7519, so we could see a temporary short-covering rally and ultimately an exhaustion move higher early this week. We will be on the look out for a sell signal as the market enters into these strong resistance zones (between 0.7519 – 0.7735). We will wait to see what happens here and will update members in our daily trade setups newsletter.

Gold – Gold rally from key support continues

After holding the key support at 1130.00 – 1140.00 that we have mentioned for weeks in our recent commentaries, the Gold market has continued to build a base and trend higher. Whilst above the aforementioned support, we still see potential upside into 1240.00 resistance area. Traders could consider buying on weakness or on a clean bullish price action signal this week.

S&P500 – S&P500 bullish trend intact, looking to buy the dips

The S&P500 consolidated last week, but whilst above 2227.00 and 2170.00 key support, the bulls remain strongly in control and the multi-year bull market continues. We did see a bullish pin bar on the daily time frame last Thursday, but given it’s position right against previous resistance and all time highs, it’s hard to know if this signal will produce any upside breakout. It might be a good idea to wait for a breakout and close higher before looking for another long entry or we could wait for a more substantial pull back into the 2227 support handle and look to get long there. Either way, this market is strongly biased to the upside and buying the dips remains the strategy of choice.

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.

Latest Trading Lessons

FEBRUARY SPECIAL NOTE: Until February 28th - Get 40% Off Life-Time Access To Nial Fuller's Professional Forex Trading Courses & Daily Trade Setups Newsletter -  Click Here For More Info.

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 15,000+ students since 2008.
Checkout Nial’s Professional Forex Course here.


Leave a Comment

Recent Posts in Trade Setups Commentary

Weekly Market Analysis & Trade Ideas by Nial Fuller – Feb. 27th to...

Posted on February 27th, 2017 | by | in Forex Trading Commentary | 1 Comment
Weekly Market Analysis & Trade Ideas by Nial Fuller – Feb. 27th to March 3rd 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar bears remain in control The EURUSD fell lower again last week as price continues to trend lower, however, it is still trading just above 1.0520 support area; a level price... Continue Reading

Weekly Trade Ideas & Market Commentary by Nial Fuller – February...

Posted on February 20th, 2017 | by | in Forex Trading Commentary | 3 Comments
Weekly Trade Ideas & Market Commentary by Nial Fuller – February 20th to 24th 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here EURUSD - Euro/dollar still contained under key resistance The EURUSD fell lower last week, but recouped most losses into the week's close after bouncing at 1.0520 key long-term support. We still... Continue Reading

Pullback in Gold Presents Buying Opportunity – 14th February 2017

Posted on February 15th, 2017 | by | in Forex Trading Commentary | 1 Comment
Pullback in Gold Presents Buying Opportunity – 14th February 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here Gold - Gold pulling back to support levels, looking to buy As we have discussed in our recent Gold commentaries, prices have been buoyant following a recent bottom that was carved in down near... Continue Reading

Weekly Trade Ideas & Market Analysis by Nial Fuller – February 13th...

Posted on February 13th, 2017 | by | in Forex Trading Commentary | No Comments
Weekly Trade Ideas & Market Analysis by Nial Fuller – February 13th to 17th 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here 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... Continue Reading

Potential GBPUSD Buying Opportunity After Pin Bar Signal – 7th February...

Posted on February 8th, 2017 | by | in Forex Trading Commentary | No Comments
Potential GBPUSD Buying Opportunity After Pin Bar Signal – 7th February 2017
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here GBPUSD - Sterling/dollar pin bar buy signal from support The GBPUSD has been flirting with a key support level near 1.2400 in recent weeks, a level we mentioned as a potential buy area in our... Continue Reading

Leave a Comment

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

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it's employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

legal
Copyright 2008-2017 Learn To Trade The Market