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Forex review blog for you

My Forex review blog for you

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Weekly Trade Ideas & Chart Analysis by Nial Fuller

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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 Ideas & Chart Analysis by Nial Fuller – May 20th to 24th, 2019

All charts illustrated are daily chart time frames unless marked otherwise.

EURUSD – Sell Pressure Continues After Bearish Pin Bar Forms At 1.1260 Resistance. 

Trend: Bearish

Relevant Key Levels: Resistance 1.1490 and 1.1265. Support 1.1110

Price Action: Small bearish Pin Bar Reversal that formed at 1.1260 resistance last week remains active.

Current Notes: A strong bearish bias remains intact. We continue to prefer selling into any strength whilst prices are contained below 1.1490 resistance. The downside move targets the 1.1110 area and potentially lower.

Trade Idea: If not already short from the bearish Pin Bar setup, we will consider selling short on any pockets of strength, targeting a move back to the recent low at 1.1110 and then potentially much lower.

NOTE – You can trade EURUSD via the preferred trading platform we use HERE.

NZDUSD – Look To Sell Into Strength Whilst Price Remains Below 0.6725 Resistance.

Trend: Bearish

Relevant Key Levels: Resistance 0.6720, 0.6850 and 0.6970. Support 0.6500 to 0.6560

Price Action: The Large Pin Bar that had formed at 0.6560 support was against the trend, and has now failed.

Current Notes: The bias is bearish whilst price holds below 0.6720 resistance, thus we prefer selling into strength whilst price is contained beneath this important price zone. Price is tracking towards the very low side of the long term range around 0.6500 to 0.6560.

Trade Idea: We will consider selling on any strength whilst price remains under 0.6720, targeting a move back to the 0.6500 to 0.6560 support area, and if we break down, possibly much lower.

NOTE – You can trade NZDUSD via the preferred trading platform we use HERE.

S & P 500 – Bull Market In Tact As Bullish Pin Bar Forms Above 2800 Support.

Trend: Bullish

Relevant Key Levels: Support 2800-2860, 2690-2730, 2600, 2500-2550. Resistance 2946.

Price Action: Inside Bar Pattern has formed above 2800 support. Bullish pin bar formed mid last week.

Current Notes: The market sold off and held firmly at 2800 over the past week. From here traders can continue to watch for price action buy signal around the 2730 to 2800 support levels, targeting a substantial bounce back to 2860 and then 2946.

Trade Idea: If not already long, we will consider getting long from a price action buy signal on a slight retracement back to just above or at the 2800 support level (be patient and wait for a pullback), upside targets 2860 and 2946.

NOTE – You can trade S & P 500 via the preferred trading platform we use HERE.

Members 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 Course Membership Page Here.

Note: –  Download a Free Trial of the Broker & Charting Platform We Use HERE.

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