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Forex review blog for you

My Forex review blog for you

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Weekly Trade Setups 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 Setups Ideas & Chart Analysis By Nial Fuller – Jan 20th to 24th, 2020

EURUSD – Bearish Under 1.1180 Resistance

Trend: Bearish

Relevant Key Levels: Resistance at 1.1180 and 1.1240 to 1.1280. Support at 1.0805, 1.0925

Price Action: Bearish Pin Bar that formed under 1.1180 resistance has sent prices lower late last week.

Current Notes: The long term bias remains bearish as prices remain contained below the 1.1180 to 1.1280 long term resistance range.

Potential Trade Idea: We will consider selling short on any short term bounce in prices and/or after a bearish price action sell signal, whilst prices remain below the 1.1180 and 1.1280 resistance areas. Initial downside targets to 1.0925.

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

https://www.learntotradethemarket.com/

AUDUSD – Bearish Under 0.6930 to 0.7030 Resistance

Trend: Long Term Bearish

Relevant Key Levels: Resistance 0.7205, 0.7080, 0.7030 and 0.6930. Support 0.6700 to 0.6800’s  area

Price Action: Price broke down from the multiple Inside Bar pattern we discussed last week.

Current Notes: The bias is bearish whilst prices remain below both the 0.7030 to 0.7205 resistance levels.

Potential Trade Idea: We will consider selling short on a short term bounce in prices AND after a bearish price action sell signal forms at or under the 0.6930 to 0.7030 resistance area. Initial downside targets to 0.6800’s area.

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

https://www.learntotradethemarket.com/

GOLD – Bullish Above The 1515-25 Area

Trend: Bullish

Relevant Key Levels: Support at $1440 to $1450’s and $1510 to $1525 area. Resistance at $1610 to $1620 area.

Price Action: Price has moved up from the small Bullish Pin bar that formed 2 weeks ago around the $1540 level. Price recently surged into $1620 long term resistance and collapsed, forming a massive Bearish Tailed Bar Signal mid-last week.

Current Notes: Despite the massive sell signal, the bias is mildly bullish whilst prices remain atop $1510 to $1525 key support area. The upside is limited from here as there is still major resistance holding firmly at $1620 from several years ago.

Potential Trade Idea 1: We will consider looking to buy at or just above the $1510 to $1525 short term support area and/or after a price action buy signal, targeting a move up to $1610 to $1620 the resistance level initially.

Potential Trade Idea 2: We will consider looking to sell at or just below the $1610 to $1620 resistance area and/or after a price action sell signal, targeting a move up to the $1510 to $1525 area initially.

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

https://www.learntotradethemarket.com/

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.

Please Leave A Comment Below 

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.





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