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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Forex Market Price Action Outlook – August 25th – 29th, 2014

Weekly Forex Market Price Action Outlook – August 25th – 29th, 2014

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

EURUSD – Euro/dollar downtrend intact

The EURUSD bearish trend continued last week as the market lost significant ground following a sell-off from the bearish tailed reversal bars we discussed in our August 14th commentary. We are looking at the weekly chart below, and we can see the next key support level is coming in down near 1.3100. Any rallies this week back to the 8 / 21 day EMA resistance layer or horizontal resistance levels should be watched for price action sell signals to rejoin the downtrend.

eurusdw

GBPUSD – Sterling/dollar sell-off continues, price approaching long-term key support levels

The GBPUSD is in a long-term corrective phase as price continues to decline within the longer-term / weekly chart uptrend. Prices have basically fallen like a rock over the last several weeks so at this point it’s a bit difficult to suggest selling from current levels. Traders can either wait for price to hit a key support level as marked on the weekly chart below near 1.6460 or 1.6250 and see if any bullish price action develops near those levels for a possible bounce higher, or wait for a retrace back to resistance on the daily chart and watch for a sell signal from resistance.

gbpusdw

AUDUSD – Looking for sell signal from resistance

The AUDUSD moved slightly higher on Friday following Thursday’s pin bar. However, as we discussed last Thursday and Friday in our members commentary, we could see this market pop up into 0.9370 key near-term resistance. If that happens, we will watch for a price action sell signal there, as this market is still contained in a trading range and there’s still bearish pressure overhead.

audusd

Gold – Prices continue to decline after pin bar sell signal

The spot Gold market continued losing ground last week as price remained under pressure following the bearish pin bar sell signal we first discussed back in our August 11th commentary. The bears are still clearly in control of this market currently and so we will continue to watch for price action sell signals on any retraces higher in the coming days, to trade in-line with the bearish momentum.

gold

Fore more trade setups on Forex pairs, commodities & indices check out the members trade setups newsletter.

Note: We Use ‘New York Close Charts’Get Our Preferred Charts & Trading Platform 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. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.

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