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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 – July 1st to 5th, 2019

All charts illustrated are daily time frames unless marked otherwise.

GBPUSD –  A Bearish Pin Bar Signal Is Likely To Trigger A Strong Downside Move Towards 1.2450

Trend: Bearish

Relevant Key Levels: Resistance 1.3180, 1.2970, 1.2820-70 and 1.2770. Support 1.2430.

Price Action: A Bearish Pin Bar that formed last week has broken down early this week.

Current Notes: The short term bias remains bearish whilst prices remain below the 1.2820-70 to 1.2970 resistance area.

Potential Trade Idea: We will consider selling on any pockets of strength whilst price is contained below the 1.2820-70 to 1.2970 resistance area, targeting a deeper rotation back towards the old 1.2430 support or potentially lower if this level fails.

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

GOLD – We Are Waiting For A Deep Pull Back Towards 1350 Support Before Looking To Buy Again

Trend: Bullish

Relevant Key Levels: Support at $1237, $1266-$1280 and $1305-$1325 and $1355. Resistance at $1400 to $1425 area.

Price Action: The Bearish Pin Bar form that formed at the most recent high has activated a short term pull back.

Current Notes: Prices break above $1350 resistance and close strongly (now support). The bias is bullish above $1300 to $1325 (recent swing low).

Potential Trade Idea: We will consider buying Gold on a price action buy signal at or just above the $1325 to $1350 short term support area.

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

S & P 500 – We Continue To Buy On Any Pockets Of Weakness Whilst 2800 Support Holds

Trend: Bullish

Relevant Key Levels: Support 2860-90, 2800, 2690-2730, 2600 and 2500-2550. Resistance  2946-60 area.

Price Action: Price breaks out above 2890 and market surges to re-test the all time high near 2960 area. The Bullish Tailed Bar that formed 2 weeks ago had activated a strong move higher.

Current Notes: Price is retreating slightly after it’s most recent test of the 2960 resistance. The bias is bullish whilst prices remain atop the 2800 support major support area. Any retracement lower is likely to see strong support from buyers around the 2800 to 2860-90 short term support area.

Potential Trade Idea: We will consider buying on a clear price action buy signal on a deeper retracement to around or just above the 2860-90 support key level. Upside targets to 2946 to 2960.

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

MEMBERS GET MORE :> 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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