Weekly Forex Trade Setups Ideas by Nial Fuller – June 25th to June 29th, 2018


EURUSD – Bearish bias whilst prices remain below 1.1838 technical resistance area.

Technical Summary: The trend remains bearish with major resistance at 1.1838. Last week saw the market break up from a tailed bar candlestick pattern at the 1.1509 support level, however, prices should see resumed selling pressure as we approach the overhead resistance at 1.1838.

Trade Ideas: Whilst the market remains contained below 1.1838, we would look to sell on any price strength, or if we see a price action sell signal on the daily or 4 hour chart time frame.

USDJPY – Bullish bias whilst prices remain atop 108.60 technical support area.

Summary: The trend remains bullish with major support at 108.60. Last week saw the market form a pin bar + inside bar combo candlestick pattern which led to a false break out higher and has yet to see any upside follow through. Prices should see buying pressure as we approach the support area around 108.60.

Trade Ideas: Whilst the market remains contained above 108.60 support, we would look to buy on any price weakness, or if we see a price action buy signal on the daily or 4 hour chart time frame.

CRUDE OIL WTI – Prices Surge Back Above 66.47 Key Technical Level.

Summary: The trend resumes to bullish with support now sitting at 66.47. Last week saw the market hold the support range between 63.87 and 61.98 that we have been discussing in recent analysis recaps. Price subsequently surged higher into the end of last week, closing back above the 66.47 technical support level.

Trade Ideas: Whilst the market remains contained above both the 63.87 and 66.47 key support levels, we would look to buy on any price weakness, or if we see a price action signal on the daily or 4 hour chart time frame.

 

This article was written by Nial Fuller, 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.

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Weekly Forex Trade Setups Ideas by Nial Fuller – June 25th to June 29th, 2018

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