Weekly Trade Ideas & Chart Analysis by EliteFxAcademy Januar 5th, 2020
By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on Januar 5th, 2020.
All charts illustrated are traded on lower timeframes (W1 and D1). Bigger picture is related on higher timeframe, and lower timeframe is ment for making decisions. When is the right timing to use the right skills and strategy will tell you Elite strategy. Furthermore, this market analysis is continuation trade from weekly analysis. This analysis is in use from 5th of Januar 20020 and could take longer.
Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Keywords: Elite strategy, Custom Indicator, Fundamental Analysis, Tehnical analysis, Price action, Advanced strategies, Trading Education
MARKET OVERLOOK
FUNDAMENTALS
Weekly Currencies Heat Map
TEHNICAL ANALYSIS
AUDCAD – Trying to get higher but after bouncing from trending resistance …
Trend: Sell/ Neutral
Support/Resistance:
R2: 0.91664
R1: 0.91013
S1: 0.89829
S2: 0.89290
S3: 0.88866
S4: 0.87810
S5: 0.86855
Price action:
Buyers are trying to get higher but after bouncing from trending resistance, this is counted as one more deny for trend reverse. Last swing where is Buyers Higher High, this was pretty fake, but still they might have a good chance to break through.
On the other side, overall trade is still Sellers. Plus more, last daily momentum is not impressive. If Sellers are able to hit trending again, then price has to break below S1 and hold this position.
Thoughts on this trade spot: At the moment AUDCAD currency pair is Neutral but still more bearish then bullish.
Potencial trade idea:
Bulls targets:
T1: 0.91664
Bears targets:
T1: 0.89290
T2: 0.88866
T3: 0.87810
NOTE – We are trading AUDCAD via the preferred trading setups by EliteFxAcademy
AUDCHF – At the moment this idea is still more bearish
Trend: Strong Sell
Support/Resistance:
R3: 0.69040
R2: 0.68489
R1: 0.67642
S1: 0.66872
S2: 0.65738
Price action:
At the moment this idea is still more bearish then bullish. Sellers slap buyers at recent R1 by lower timeframe, that is also daily resistance. Fakers are still possible, but after this breakout, Buyers has to be really powerfull to get back on the track. From buyers perspective, I’d rather wait lower which is more expected for now.
From sell side, this trade already entry continuation to potencial targets, but we have to be aware of fakers. Monday might me changing day, but following Elite strategy there should not be any problems figuring our perfect timing and risk management.
Thoughts on this trade spot: At the moment AUDCAD currency pair is very bullish but still we recommend to follow daily analysis and analysis update.
Potencial trade idea:
Bulls targets:
T1: 0.69040
Bears targets:
T1: 0.66872
T2: 0.65738
NOTE – We are trading AUDCHF via the preferred trading setups by EliteFxAcademy
AUDNZD – Buyers look like they are lack of power. Both sides are very compatitive but …
Trend: Strong Sell
Support/Resistance:
R3: 1.05465
R2: 1.05308
R1: 1.04681
S1: 1.04068
S2: 1.03616
S3: 1.03132
Price action:
Both sides are very compatitive but buyers looks like they have no power. Are they lack of momentum?
This trade seems tricky to decide which side will continue, and there we are when knowledge is your key performance. We are closely to Elite spot decision…
At the moment this idea is more bearish then bullish. It is hard to know if buyers wanna trick sellers. If we can see price holding below S1 then sellers will continue to following targets. On the other side, if buyers will pump, then this trade has to be on waiting list, because we need more answers.
*Still this trade might follow targets, and then buyer defence very powerful with snap back moment.
Potencial trade idea:
Bulls targets:
T1: 1.05308
Bears targets:
T1: 1.04068
T2: 1.03616
T3: 1.03132
NOTE – We are trading AUDNZD via the preferred trading setups by EliteFxAcademy
EURAUD – Buyers react stronger
Trend: Buy/ Neutral
Support/Resistance:
R4: 1.62105
R3: 1.61464
R2: 1.61125
R1: 1.60756
S1: 1.60108
S2: 1.59764
S3: 1.59064
Price action:
Both sides are extremly powerfull, but buyers might change this. At the moment the flow that was lead by sellers on lower timeframe, was reversed. Buyers react very strong from last daily high. If they want to continue their way, they will have to get much higher to hit even 3rd target. If sellers will try to get lower but slower, then we should wait for buyers again.
Overall trade will be still on sellers side till Buyers get higher then is our second Target and hold the price.
Thoughts on this trade spot: At the moment EURAUD currency pair is getting strong bullish signs but still we recommend to follow daily analysis and analysis update.
Potencial trade idea:
Bulls targets:
T1: 1.61125
T2: 1.61464
T3: 1.62105
Bears targets:
T1: 1.59064
NOTE – We are trading EURAUD via the preferred trading setups by EliteFxAcademy
EURGBP – Sellers were denied to get lower. Do you think buyers will push price higher?
Trend: Buy/ Neutral
Support/Resistance:
R3: 0.86945
R2: 0.86232
R1: 0.85740
S1: 0.85144
S2: 0.84884
S3: 0.83784
Price action:
At the moment this idea is still bearish, but compare to momentum power, this trade is not ready to sell positions.
Overall movement is Sellers, but because on unexpected reversal signs, it is better to wait then react stupid or gamble.
Buyers have better chance to hit targets, if they are able to hold above R1.
On the others side. Even if buyers are able to hit those targets, Sellers are waiting. From psychology perspective is like, we need more buyers, to sell harder, but there is always BUT, cause of Elite Momentum.
Potencial trade idea:
Bulls targets:
T1: 0.86232
T1: 0.86945
Bears targets:
T1: 0.83784
NOTE – We are trading EURGBP via the preferred trading setups by EliteFxAcademy
GBPCAD – Sellers might be ready to hit again
Trend: Sell/ Neutral
Support/Resistance:
R2: 1.72774
R1: 1.70913
S1: 1.69200
S2: 1.67039
Price action:
Sellers might be ready to hit again, counted from power they showed last days. Overall trade is still buyers till sellers prove reverse, if they will. This is clue to follow Elite strategy instructions.
From price action flow, sellers might retrace from R1 level or go straight to first targert. If sellers are able to hold below first target, which spot is more important then this moment, we can easily go further to second target or even lower.
Thoughts on this trade spot: At the moment GBPPCAD currency pair is getting strong bearish signs but still we recommend to follow daily updates.
Potencial trade idea:
Bulls targets:
T1: 1.72774
Bears targets:
T1: 1.69200
T1: 1.67039
NOTE – We are trading GBPCAD via the preferred trading setups by EliteFxAcademy
GBPCHF – Sellers on the decisional edge
Trend: Sell/ Neutral
Support/Resistance:
R3: 1.30175
R2: 1.28902
R1: 1.28029
S1: 1.26765
S2: 1.25092
S3: 1.24123
S4: 1.22013
Price action:
Overall flow is neutral, because the market still didn’t decide which side is dominant. At the moment sellers are more powerfull then buyers, but we can’t said yet this is sellers trade till the price break S1 level. If sellers will break S1 level, then price will follow potencial bear targets. If sellers will make fakeout then we have to wait for market decisions and finding new our potencail Elite spot.
Thoughts on this trade spot: At the moment GBPCHF currency pair is bearish. The problem we see is at current point because sellers didn’t take advantage for selling lower, but they stopped. First we have to wait for buyers pull back that is dependent on next supportical resistance levels.
Potencial trade idea:
Bulls targets:
T1: 1.28902
T2: 1.30175
Bears targets:
T1: 1.25092
T2: 1.24123
T3: 1.22013
NOTE – We are trading GBPCHF via the preferred trading setups by EliteFxAcademy
USDJPY – Sellers hit stronger but still patiance is the key
Trend: Sell/ Neutral
Support/Resistance:
R3: 109.294
R2: 108.767
R1: 108.414
S1: 107.887
S2: 107.318
S3: 106.755
Price action:
Overall flow is neutral, but still more bearish then bullish. This is seen on chart from last sellers momentum power, but this doesn’t tell us trending will continue that way very low. Decision will be made after breaking S1 level. If sellers are able to do this, then price could easily go to S2, where is market’s second Elite spot to next sellers targets.
At the moment price is caught is buyers range and overall sell trend. This will be tough decision and long term hold on any side that price will be led.
For all Elite members, this is very good long term trade after trending decision, so the price can also fall in consolidation for some time.
Potencial trade idea:
Bulls targets:
T1: 108.767
Bears targets:
T1: 107.887
T2: 107.318
T3: 106.755
NOTE – We are trading USDJPY via the preferred trading setups by EliteFxAcademy
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