Note On Charts: It’s imperative to your trading success that you are trading with a broker that offers ‘New York Close Forex Charts‘, (a true 5 day chart that aligns with the New York Close).
Chart Commentary Disclaimer: Nial’s views on the Charts is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this newsletter, do your own research and be aware of the risks and rewards.
Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – March 23rd to 27th, 2020
Relevant Key Levels: Support at 107.80 and 101.20. Resistance 112.20.
Price Action: 2 Bullish Pin Bars form at the most recent highs, just under 112.20 resistance. Price broke up from an Inside Bar pattern mid last week.
Current Notes: Price surged and reclaimed the 107.80 key level (now support).
Potential Trade Idea: We will consider looking to buy on a pull back whilst prices hold above 107.80 support, OR after a price action buy signal, targeting a move back down to 112.20 and potentially higher.
NOTE – You can trade Spot USDJPY via the preferred trading platform we use HERE.
Trend: Long Term Bullish / Short Term Bearish.
Relevant Key Levels: Support at $1445. Resistance $1610 and $1690 to $1700.
Current Notes: Price tested and held above the $1445-$1455 support level we mentioned as a potential buying area last week. There is now strong support at the $1455 area.
Potential Trade Idea: We swill consider looking to buy on a substantial retracement lower, whilst prices still hold above the $1445-$1455 major support area, targeting a move back up to $1610 and then $1690-$1700 area.
NOTE – You can trade Spot GOLD via the preferred trading platform we use HERE.
Relevant Key Levels: Resistance at 1.1400 to 1.1490, 1.1240 and 1.1110. Support at 1.0770 and 1.0630
Price Action: Price collapsed from a multiple Inside Bar pattern last week. 2 failed bearish Pin Bars formed at recent lows.
Current Notes: None
Potential Trade Idea: We will consider looking to sell after a price action sell signal at or just below the 1.1110 to 1.1240 resistance area. Targeting a move back down towards 1.0770 or 10630 levels.
NOTE – You can trade Spot EURUSD via the preferred trading platform we use HERE.
Get Daily Trade Ideas & Chart Analysis From Nial Fuller Every Day …
All Members of Nial Fuller’s trading courses & members area get access to Nial’s daily trade setups ideas newsletter. You will get potential trade ideas and technical chart analysis on Currency Pairs, Commodities, Stock Indices and more. For More Info Visit the Price Action Trading Course Membership Page Here.
Please Leave A Comment Below