Note On Charts: It’s imperative to your trading success that you are trading with a broker that offers ‘New York Close Forex Charts‘, (a true 5 day chart that aligns with the New York Close).

Chart Commentary Disclaimer: Nial’s views on the Charts is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this newsletter, do your own research and be aware of the risks and rewards.

GOLD (Spot)

Trend: Long Term Bullish

Relevant Key Levels: Support at $1445, $1535 to $1560 and $1640-60. Resistance at $1740-$1750 area.

Price Action: An Inside Bar formed under $1740 late last week. A bearish Pin Bar formed at $1740 area early last week. (Potential for short term sell off back to $1660 support). (Discussed in Members Daily Newsletter Last Week)

Current Notes: Short term support sits at the $1560 area and $1640-50 area.

Potential Trade Idea 1: We will consider looking to sell after a price action sell signal (bearish Pin Bar or Fakey) at or just under the $1740’s resistance, targeting a short term move back to $1660 support area.

Potential Trade Idea 2: We will continue to consider looking to buy on any short term retracement lower and after a price action buy signal, whilst prices hold above the $1560 short term support area, targeting a move back up to $1740’s and beyond.

NOTE – You can trade Spot GOLD via the preferred trading platform we use HERE.

HSI (Hang Seng Index) – Cash

Trend: Bearish

Relevant Key Levels: Support: 20000, 21000 and 22100. Resistance 24900, 25670 and 26850.

Price Action: Price sold off aggressively from the prior ‘event zone’ at 24900  last week (prior Pin Bar at key resistance level). (Discussed in Members Daily Newsletter last week)

Current Notes: The short term bias is Bearish below the 24900 to 25670 resistance zone. Long term chart shows a classic bearish head and shoulders pattern which has triggered lower.

Potential Trade Idea: We will consider selling on a retracement higher and after a price action sell signal, whilst price remains beneath the 24900 to 25670 area, targeting a move back towards the 23,000 and 22,100 levels initially area.

NOTE – You can trade Hang Seng Index Cash via the preferred trading platform we use HERE.

EURUSD (Spot)

Trend: Sideways

Relevant Key Levels: Resistance at 1.1145 and 1.0980. Support at 1.0770 and 1.0630

Price Action: Price recently tested the ‘event zone‘ at 1.0980 (prior bearish tailed bar formed at this level).

Current Notes: Price continues to rotate within a trading between 1.0770 and 1.0980 short term range.

Potential Trade Idea: We will consider looking to sell after a price action sell signal at the 1.0980 0r 1.1145 resistance level. Targeting a move back down to 1.0770 or 1.0640.

NOTE – You can trade Spot EURUSD via the preferred trading platform we use HERE.

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All Members of Nial Fuller’s trading courses & members area get access to Nial’s daily trade setups ideas newsletter. You will get potential trade ideas and technical chart analysis on Currency Pairs, Commodities, Stock Indices and more. For More Info Visit the Membership Page Here.

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