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Daily Trade Ideas & Chart Analysis by EliteFxAcademy 7th of February, 2020

By February 7, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on February 7th, 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 7th of February, 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:

AUDUSD– Buyer are on waiting and sellers are pushing

Trend: Sell/ Neutral

Support/Resistance:

R3: 0.67700

R2: 0.67514

S1: 0.67235

S2: 0.67068

S3: 0.66828

Price action:

At the moment we are in overall sellers trending idea. Sellers might push price lower and test buyers supports. After testing this supports we’ll see how strong are buyers. Lately if buyers are able to turn the market then we can go bullish from second resistance and higher. But right now we are focusing on sell side from overall market idea, so after after breaking first support level at 0.67235 then we can expect price to go to our second support and after breaking that level, we can expect price to test second support level.

*We are recommending using custom indicator which tells you exact entries, correct risk management and smart profits.*

Potencial trade idea:

Bulls targets:

T1: 0.67700

Bears targets:

T1: 0.67068

T2: 0.66828

 

NOTE – We are trading AUDUSD via the preferred trading setups

 

 

EURUSD – Sellers on continuation of trending idea

Trend: Sell/ Neutral

Support/Resistance:

R3: 1.10631

R2: 1.10157

R1: 1.09898

S1: 1.09646

S2: 1.09405

S3: 1.09014

Price action:

Market on EURUSD currency pair is still more bearish then bullish. At the moment bears broke important support zone and they are continue way lower. Our expectation on this trade is to broke first support level and then price is able to test lower targets. If price can broke second resistance again which will be very hard from bullish side, then it is expected that price can test third resistance level.

*We are recommending using custom indicator which tells you exact entries, correct risk management and smart profits.*

Potencial trade idea:

Bulls targets:

T1: 1.10631

Bears targets:

T1: 1.09646

T2: 1.09405

T2: 1.09014

 

NOTE – We are trading EURUSD via the preferred trading setups

 

 

CHFJPY – Buyers on waiting spot

Trend: Buy/ Neutral

Support/Resistance:

R2: 113.005

R1: 112.838

S1: 112.697

S2: 112.585

Price action:

Market is still on very strong bullish side from CHFJPY currency pair trending idea. But the problem is bearish momentum, which can bring problems to buyers till the right dirrection is not broken. So buyers has to broke first resistance at 112.838 level to continue back to daily recent higher high level. On the other side, if sellers will broek first support level at 112.697, then lower timeframe has opportunity to sell contra trade to second support level at 112.585.

*We are recommending using custom indicator which tells you exact entries, correct risk management and smart profits.*

Potencial trade idea:

Bulls targets:

T1: 112.838

T1: 113.005

Bears targets:

T1: 112.585

 

NOTE – We are trading CHFJPY via the preferred trading setups

 

 

You are welcome to our Academy anytime. We’re here to help you achieve what you have been looking for.

Use our free analysis where you have everything you need for potencial trade ideas and profit.

*If there’s any info, subscribe email on; admin@elitefxacademy.com , and send us your trading report and your thoughts on this trade. We likely to help to everyone*

Good trading!

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