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Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – July 2nd to 6th, 2018

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Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

Disclaimer: Nial’s views and comments on the following markets and charts is not advice or a recommendation, it is for educational and general information only.

WEEKLY PRICE ACTION TECHNICAL ANALYSIS & TRADE SETUPS IDEAS – July 2nd to 6th, 2018

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

EURUSD

Technical Summary – Bearish trend persists whilst the market is contained under the 1.1838-50 resistance level.

Trade Forecast – Whilst price is below the 1.1838-50 resistance zone, consider selling on any price strength or wait for a price action signal.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

USDJPY

Technical Summary – Bullish trend remains in tact whilst the market is contained above the 108.75 and 109.35 technical support levels. The 2 bullish tailed bars we discussed in the members daily trade setups newsletter last week have led to higher prices.

Trade Forecast – Whilst price is contained above the 108.75 major support level, we would look to buy on any price weakness or wait for a price action buy signal on the 4 hour chart or daily chart time frame.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

GOLD

Technical Summary – Bearish trend remains whilst the market is contained under the 1282 and 1305 technical resistance zone.

Trade Forecast – Whilst price is contained below the 1282 to 1305 resistance zone, we would look to sell short on any price strength towards 1282, or wait for a price action sell signal on the 4 hour or daily chart.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

S & P 500 USA INDEX

Technical Summary – A short term bearish trend has commenced last week as price failed at the 2741 key support level. The market has formed 2 bearish tailed pin bars last week and is now clearly struggling at that overhead 2741 level. If resistance holds, a short term swing lower is likely toward next key levels at 2674 and possibly 2594.

Trade Forecast – After last weeks bearish price action signals (2 bearish tailed pin bars), we would look to sell short and ride the market lower into 2674 or possibly even lower. Alternatively, traders might wait for any price strength to sell short or wait for another price action sell signal on the 4 hour or daily chart.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

FTSE 100 UK Index

Technical Summary – Bearish trend in tact whilst the market is contained under the 7615 technical resistance.  Last Friday saw a large bearish pin bar reversal sell signal form at that 7615 resistance level, a clear indication prices could be destined for lower prices.

Trade Forecast – After last weeks pin bar reversal sell signal, we would consider selling short and riding the market lower early this week. Alternatively, whilst the market remains below 7615, traders might wait for any price strength to sell short or wait for another price action sell signal on the 4 hour or daily chart.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

Want Daily Trade-Ideas & Chart Analysis? Members of Nial Fuller’s trading education courses get access to the members daily trade setups newsletter. You will get potential trade ideas and detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more, every trading day. For more information visit the Trading Course Membership Page Here.

Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

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.





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