In 2016, Nial won the Million Dollar Trader Competition. The EURUSD retraced to the upside last week within the context of the downtrend it has been in since breaking down through 1. We are still looking to sell, in-line with this trend, as we discussed in our last few weekly commentaries. 1820 area as a strong potential sell level.
The USDJPY popped higher last Friday after pulling back to the key support zone at 108. 80 and forming multiple bullish tailed bars there mid-week last week. We discussed buying in that zone in our last May 28th weekly market commentary so hopefully some of you got long on the pull back. For the AUDUSD bears, it all depends on 0. We should note that there has been some mildly bullish price action on the weekly chart with several tailed bars and this could see the market test higher into 0. Following a break and close below previous key support near 1300 area, Gold has shifted from a sideways trading range structure to a near-term downtrend, and we are looking to sell as a result, as we discussed last week too. 1325 area and price should struggle here in the short-term.
We are looking to be a seller on strength this week on a 1 hour, 4 hour or daily chart sell signal. Crude Oil initially bounced at the support we mentioned last week near 65. 50, however, price is now back there again. We remain bullish if the support near 65. We would ideally like to see a buy signal on the 4-hour or daily chart in this support region this week and we will continue to monitor this market and update you guys in the members area if any obvious buy signals develop. In the members’ daily trade setups newsletter, we discuss potential trade setups and provide detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more.
Technical Chart Analysis by Nial Fuller, Nov. Nial Fuller’s Price Action Forex Trading Course. Free Trial – Receive daily low-risk high-reward SP500 NYSE Nasdaq buy-long and short-sell stock picks that are experiencing strong increasing and decreasing earnings, that include buy sell entry, stop-loss, take profit area price targets, and trade management information to your email inbox. Italian shares, stronger euro weighed on European equities. Trade hopes and the end of easy money were the twin themes in trading on Wednesday, with U. The Stoxx Europe 600 Index finished little changed as a strengthening euro provided a headwind and as Italian shares fell. The dollar stayed lower after the U.