The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. The EURUSD best forex trade setups to the upside last week within the context of the downtrend it has been in since breaking down through 1.
We are still looking to sell, in-line with this trend, as we discussed in our last few weekly commentaries. 1820 area as a strong potential sell level. The USDJPY popped higher last Friday after pulling back to the key support zone at 108. 80 and forming multiple bullish tailed bars there mid-week last week. We discussed buying in that zone in our last May 28th weekly market commentary so hopefully some of you got long on the pull back. For the AUDUSD bears, it all depends on 0.
We should note that there has been some mildly bullish price action on the weekly chart with several tailed bars and this could see the market test higher into 0. Following a break and close below previous key support near 1300 area, Gold has shifted from a sideways trading range structure to a near-term downtrend, and we are looking to sell as a result, as we discussed last week too. 1325 area and price should struggle here in the short-term. We are looking to be a seller on strength this week on a 1 hour, 4 hour or daily chart sell signal. Crude Oil initially bounced at the support we mentioned last week near 65. 50, however, price is now back there again.