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Nial Fuller

Professional Trader, Author & Trading Coach

Trade Ideas & Technical Chart Analysis by Nial Fuller, November 6th to 10th 2017

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

EURUSD – Euro/dollar bears threaten to push market lower again

The EURUSD consolidated just below near-term resistance at 1.1660 last week as bears kept price subdued following the strong sell-off that took place the previous week. As we mentioned last week, we have taken a bearish stance on this market and we are looking to sell whilst under 1.1860 swing high. Traders can look to sell on strength this week, ideally on a 4 hour or daily chart price action signal near 1.1660 or further up whilst below 1.1860.

AUDUSD – Aussie/dollar stays contained under key resistance

The AUDUSD remains contained under resistance levels following the recent bearish swing we’ve seen in this market. Failure of support at 0.7750 turned this chart bearish and whilst price is contained under the swing high at 0.7890 we are looking to be sellers. Traders can look to sell on strength whilst below 0.7890, ideally on a 4-hour or daily chart price action signal. Keep an eye on 0.7750 near-term resistance this week as well; we can look to sell at or near that level on a signal. Stay tuned to our daily members market commentary for ongoing updates on the AUDUSD.

GBPJPY – Sterling/yen remains bullish above key support zone

We remain bullish on the GBPJPY as the yen pairs are looking mildly bullish across the board right now. This view is in-line with the recent uptrend this market has been in and the pin bar buy signal from October 12th which we discussed in our members daily trade setups commentary that day. This pin bar trade has paid off well for those who held it, and from here, we see further upside possible whilst support at 147.00 holds; that is a confluent level with the low of the pin bar we just mentioned and is also an event area. Traders can look to buy this week on pull backs / weakness ideally near or within the 147.70 – 147.00 support zone.

GBPUSD – Sterling/dollar remains above key support level

The GBPUSD moved lower last week as price continued to consolidate and move sideways just above 1.3025 key support level. We remain mildly bullish whilst price is above that level but any further decline and subsequent close under 1.3025 would flip this chart into a more bearish tone. Traders can consider long entries on an obvious 4 hour or daily chart buy signal near 1.3025, but keep in mind that a close under that level could lead to a decline into key support further down near 1.2780.

Crude Oil – Crude Oil continues to push higher

The Crude Oil market continued moving higher last week, in-line with our recent commentaries in which we discussed looking to buy it. We are still bullish on Crude and we will be watching for pull backs this week to get long. Traders can watch support at 52.65 area as well as 51.00 for price action buy signals to get long and trade in-line with the uptrend.

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. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
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  1. derrick November 9, 2017 at 8:07 am

    thanks so much this shows that i dont have to hattle much with trends wen picking a perfect daily trade with such analysis


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