Weekly Forex Trade Setups by Nial Fuller – October 8th to 15th, 2018


Nial Fuller forex trader education

EURUSD – Price has collapsed below support as trend turns bearish.

The EURUSD has stalled at 1.1800 resistance and collapsed back below 1.1525 support in spectacular fashion.

The technical collapse back below both 1.1615 and 1.1535 support zones has activated a short term bearish leg lower which could open the door for a larger move down toward the recent lows near 1.1298.

We are standing aside until we see a price action pattern to confirm an entry.

AUDUSD – Bearish Pin Bar reversal signal sends prices to fresh lows.

A long term down trend remains in tact with nearby resistance at 0.7470 and 0.7320. We expect the market to be contained under the 0.7470 major resistance.

A bearish pin bar reversal had formed below 0.7320 resistance 2 weeks ago, and the market has continued lower from the daily pin bar discussed in prior comments, recently breaking back below the recent low at 0.7080.

We continue to see any strength / bounce as a selling opportunity as prices look to be tracking lower with strong momentum.

Consider selling short on any strength whilst price is contained below the 0.7207 to 0.7320 short term resistance area, or wait for another price action sell signal on 4 hour or daily chart to confirm an entry.

GOLD (Spot Gold) – Bearish bias whilst price is contained below the $1215 usd/oz resistance level.

The down trend on Gold remains in tact with nearby resistance at $1205 – $1215 zone and $1237 level.

Price remains contained under the $1205 to $1215 resistance area, and we can see a bearish rejection of this area over the last few weeks. The inside bar structure discussed recently has broken to the downside and remains in tact.

We prefer to be sellers just under the nearby resistance area, either blindly or with a price action signal to confirm a sell entry.

Consider selling short on any strength, whilst price is below the $1215 resistance area, targeting a move back into $1150-60 area. A move and close above $1215 voids any shorts.

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 Setups by Nial Fuller – October 8th to 15th, 2018

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