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Nial Fuller

Professional Trader, Author & Trading Coach

Weekly Trade Ideas & Technical Chart Analysis by Nial Fuller – July 31st to August 4th 2017

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | 2 Comments

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EURUSD – Euro/dollar bulls remain in control

The EURUSD moved higher last week as the uptrend continued with price easily moving and closing above 1.1712 key resistance. The next key resistance is not seen until up near 1.2045 area, so there’s plenty of room for this pair to keep moving higher. Traders can look for any weakness or pull backs in price for buying opportunities on the 1hr, 4hr or daily chart. We are watching 1.1480 – 1.1300 as near-term support and we remain bullish whilst above 1.1300.

AUDUSD – Aussie/dollar remains buoyant as uptrend continues

The AUDUSD remains firm and gained more ground last week as the uptrend continued. Price has recently broken out from and closed above a major trading range it had been in for over a year, so we would expect price to continue to move higher in the coming weeks. This week, 0.7875 and the 21 day ema is near-term support and we are looking to buy near those areas or above if we get a price action entry signal following some weakness. The next key resistance / target area is up near 0.8162.

GoldGold surging up toward top of trading range

Gold surged higher last week, moving and closing above both 1244.00 and 1260.00 resistance levels, showing that bulls are clearly in control as this market continues to make its way up from the bottom of the trading range at key support near 1214.00. We remain bullish above 1244.00 support and can look to get long on any weakness this week, watching 1260.00 to 1244.00 as a buy-zone. There’s plenty of room to the upside with key resistance not until the recent swing highs at 1296.00 area.

OIL – Crude Oil in upward swing towards key 52.00

Crude Oil pushed significantly higher last week, closing above 47.20 , a level we had discussed in recent commentaries as resistance. We remain bullish on this market and can consider long entries on a pullback back to 47.20 – 46.20 area or just above. The next major resistance is not until up near 52.00 and we could see price test that key level in the coming weeks. Stay tuned to our daily members trade setups commentary for updates on Crude Oil this week.

SPI200 – SPI200 Australian stock index remains range-bound

We reiterate the same analysis for the SPI200 as recent weeks as price remains overwhelmingly pressured under 5800. Traders can continue to look to sell short the SPI on any price strength whilst the market remains contained beneath 5800 major resistance. This strategy has paid off for traders over the past few weeks. Until a strong close above 5800, expect more downside back into 5600 levels.

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.
  1. Petrus July 31, 2017 at 3:15 pm

    Thank you.
    I would like to know your advice or suggestion on how swing traders who are using daily time frame dealing with gapping up or down that usually happen on Monday.

  2. Samuel July 31, 2017 at 11:57 am

    Great analysis.. your insight into the market is always refreshing. Keep it up Neil


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