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NIAL FULLER
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Forex Trade Setups Commentary: EURUSD inside bar at resistance 8-9-10

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | 3 Comments

Forex Trade Setups Commentary:

EURUSD inside bar at resistance

The EURUSD formed an inside bar today just underneath resistance at 1.3260. This inside bar did indeed form in the context of the daily uptrend, so we would have to assume that it might break higher and lead to higher prices.

However, a look at the weekly chart will show just how significant the resistance is near 1.3260. Thus, today’s inside bar price action setup could lead to lower prices given where it is located. This would be a counter-trend setup and therefore is not recommended to inexperienced traders. Inside bars do occur relatively frequently at major market swing points.

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Weekly chart of EURUSD:

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For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my forex trading course.

Commentary:

The U.S. dollar gained back some lost ground today against the other majors, rising against the Euro, British pound, Australian dollar, New Zealand dollar, Swiss franc, and Japanese yen, while remaining basically unchanged against the Canadian dollar.

The Dow rose 45.26 points, or 0.42 percent, the S&P 500 rose 6.12 points, or 0.55 percent, the Nasdaq added 17.22 points, or 0.75 percent.

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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. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. Viet July 11, 2019 at 12:32 am

    Nial, Im from Vietnam. I cannot describe how much I admire you.
    Never imagine some simple candle patterns have such power on the market.
    I always dream to be a successful trader living my free life with beloved but have never reached it after some years of ups and downs…a lot of pain, loss …
    I want to have a life like you, being happy with beloved wife and daughter and enjoy trading, please help me by posting more about your price action applications, I promise with you and with myself that I will appreciate every piece of experience from your posts.
    Many appreciation, admiration, loves and best wishes from me to you.

    Reply
    • Nial Fuller July 12, 2019 at 1:53 am

      Your comment is very appreciated, it is good to hear from traders in Vietnam.

      Reply

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