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Daily Trade Ideas & Chart Analysis by EliteFxAcademy 23th of January, 2020

By January 23, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on January 23th, 2020

All charts illustrated are traded on lower timeframes (D1 and H4, H1). 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 daily analysis. This analysis is in use for 23th of January, 2020. (can take more time)

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

Disclamer: If we’re not save in trade yet, then it is more save to wait for a currency pair after news are reliased for this particural currency. This might be a short correction, or price will give us moving dirrection after news will be reliased.

 

Daily Currencies Heat Map

 

TEHNICAL ANALYSIS:

EURCHF– Sellers are still dominant

Trend: Strong Sell

Support/Resistance:

R3: 1.08318

R2: 1.07959

R1: 1.07824

S1: 1.07324

S2: 1.06813

S3: 1.06342

Price action:

In this case overall flow of EURCHF currency pair is sellers trending way. If we compare buyers and sellers in this case, we can say that buyers tried to break resistance level at 1.07824. They got slaped because of overall selling power, which tells us continuation of this trending idea to potencial targets, if the price broke below 1.07324 support level. On the way up, we can still expect bulls trial, but overall bullish idea will be after breaking their first target. Until then we can be focus on bearish trade idea.

Potencial trade idea:

Bulls targets:

T1: 1.07959

Bears targets:

T1: 1.06813

T2: 1.06342

NOTE – We are trading EURCHF via the preferred trading setups

 

 

EURGBP – Sellers on the possible win win track

Trend: Sell/ Neutral

Support/Resistance:

R3: 0.85361

R2: 0.84877

R1: 0.84544

S1: 0.84236

S2: 0.83643

S3: 0.82731

Price action:

Market is getting power on EURGBP sell side. In this case Bears has to retrace from first resistance level at 0.84544. After this retracement market has to close on daily chart below 0.84236 support level to continue its way down and treat this trade as a bearish trade idea. The overall flow might take longer time to reach bearish targets because of bullish pull back on the left side. If bulls are able to get higher then their potencial trade will be between 0.84877 and 0.85361 resistance level which is hard to expect but possible to sell even later.

Potencial trade idea:

Bulls targets:

T1: 0.85361

Bears targets:

T1: 0.83643

T2: 0.82731

 

NOTE – We are trading EURGBP via the preferred trading setups

 

GBPAUD – Buyers on winning steak

Trend: Buy/ Neutral

Support/Resistance:

R1: 1.93938

S1: 1.90920

S2: 1.89110

S3: 1.86518

Price action:

Market is showing some bullish momentum on GBPAUD currency pair which can follow potencial trade idea if retracement on first support will be clear to entering position. Overall trade idea is bullish but particular this currency pair is in overall neutral zone even if target will be reached. Dominant buyers will be in case if price will break 1.93938 resistance level for proving trending idea. On the other side, if bears are able to broke 1.89110 support level then we can follow potencial bears trade idea to 1.86518 third support level.

Potencial trade idea:

Bulls targets:

T1: 1.93938

Bears targets:

T1: 1.86518

 

NOTE – We are trading GBPAUD via the preferred trading setups

 

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