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Weekly Forex Trade Setups Ideas by Nial Fuller – January 22ND to 26th, 2018
EURUSD – Euro/dollar remains buoyant within uptrend
The EURUSD moved sideways last week as we can see below on the daily chart. However, this market is in the middle of a powerful uptrend with a lot of upward momentum behind it and we see no reason for that to change this week. We are looking for a pullback before buying with close focus being paid to the 21-day exponential moving average (blue line) and the support / value zone between 1.2090 to 1.1950. We will be looking for 1 hour, 4 hour or daily chart price action buy signals this week on any weakness whilst price is trading within or above that support zone.
Gold – Gold setting up to push higher again
Last week, Gold consolidated within the overall uptrend this market has been in since late December of last year. Our views remain unchanged from recent weeks; we are looking to get long (buy) Gold on a price action signal after a rotation lower back towards 1306.00 key horizontal level.
China50 – Chinese Stock Index uptrend intact, looking to buy
The China50 stock index has been in a powerful uptrend since early 2016 and this uptrend is still very healthy. There is some key long-term resistance coming in up near 14,980, but we see potential to continue buying this market on pullbacks to support ahead of that level. Traders can watch for retracements back to the 21 day moving average (blue level) and 14,000 key support to be a buyer on a price action entry signal.
This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder and CEO of Learn To Trade The Market, the world’s foremost trading education resource.