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Commentary Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments.
AUDUSD – Spot
Key levels: 0.7459, 0.7562, 0.7620, 0.7705, 0.7806 – 0.7838, 0.8006
Price Action: Price has formed a Bullish Fakey setup with a Pin Bar just above the 0.7562 key support level yesterday. The price tested and held the 0.7562 major support level late last week (discussed in Monday’s members newsletter).
Potential Trade Idea: We are considering trading longs from the Bullish Fakey + Pin Bar signal, whilst the price remains above the 0.7562 major support level.
NOTE – You can trade Spot AUDUSD via the trading platform we use HERE.
CRUDE OIL – Futures
Key Levels: $51.56, $53.81, $57.35, $59.16, $63.73, $66.22, $67.94
Price Action: Price saw strong buying pressure from the 50% range of the multiple Inside Bar pattern that formed above the $57.35 support level last week (discussed in Tuesday’s commentary). The prior Bullish Pin Bar signal failed as prices tickled just below the tail of the Pin Bar (discussed in the previous commentary).
Potential Trade Idea: We are still considering trading longs on a retracement lower, and after a price action buy signal, whilst price holds above the $57.35 – $59.16 support zone.
NOTE – You can trade CRUDE OIL Futures via the trading platform we use HERE.
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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.