Weekly Forex Trade Ideas by Nial Fuller – September 17th to 21st, 2018

Nial Fuller forex trader education

EURUSD – It All Depends On The 1.1535 Key Support Level.

Chart Summary: Neutral Bias. 2 weeks ago, price recently broke down below 1.1535 but quickly reversed higher, triggering a massive short covering rally. This has created a massive bullish fakey setup + pin bar reversal on the monthly chart, a bullish sign.

Market holds support and is tracking higher, the bias remains bullish bias above 1.1535

Trade Forecast: Consider buying on any dips, or wait for a price action buy signal to confirm an entry above 1.1535. Upside targets to 1.1750-1.1820 area.

GBPUSD – Inside Bar Break Out In Play As Price Reclaims 1.3000 Key Level.

Chart Summary: Neutral Bias. Overhead key resistance levels at 1.3200 and 1.3295 and support at 1.2820 and 1.2660.

The Inside bar setup on daily chart has broken to upside with the market reclaiming the 1.3000 resistance level on a closing basis.

Trade Forecast: The Inside bar setup that formed last week has triggered to the upside, targeting a move into 1.3200 and 1.3295. Consider buying on any dip this week or wait for another price action signal to confirm an entry.

GOLD – Bears Take Control Again Under $1215 US/oz Level

Chart Summary: Bearish Bias. Down trend remains in tact with nearby resistance at $1205 – $1215 zone and $1237 major level.

Price remains contained under $1205 to $1215, and we can see a bearish rejection of this area late last week. Whilst below this resistance, there is downside risk back towards $1150-60 area.

Trade Forecast: Consider selling short on any strength around $1205 to $1215 resistance area, targeting a move back into $1250-60 area.

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 blog.

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Weekly Forex Trade Ideas by Nial Fuller - September 17th to 21st, 2018

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