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Daily Trade Ideas & Chart Analysis by EliteFxAcademy 11th of February, 2020

By February 11, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on February 11th, 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 11th 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:

EURUSD – Sellers on continuation Weekly trending idea

Trend: Sell/ Neutral

Support/Resistance:

R3: 1.10849

R2: 1.09938

R1: 1.09401

S1: 1.08796

S2: 1.06868

Price action:

Market on EURUSD currency pair is still more bearish then bullish. Bears already proven broken bullish zone on daily timeframe, which was very annoying but patiantly flow is following weekly trending idea to first support level at 1.08796 and it might go to fully potencial target at 1.06868 support level.

Potencial trade idea:

Bears targets:

T1: 1.08796

T2: 1.06868

NOTE – We are trading EURUSD via the preferred trading setups

 

EURGBP – Weekly sellers on continuation trending way

Trend: Strong Sell

Support/Resistance:

R2: 0.85755

R1: 0.84805

S1: 0.83644

S2: 0.82748

Price action:

Market on EURGBP currency pair is still more bearish then bullish. At the moment bears are at very good position to sell lower, but first we have to se retracement on 0.84540 resistance level. After that we can sell position to first key support level on daily timeframe at 0.83644, and second suport level which is recent weekly lower low support level at 0.82748.

Potencial trade idea:

Bears targets:

T1: 0.83644

T2: 0.82748

NOTE – We are trading EURGBP via the preferred trading setups

 

GBPJPY – Daily buyers are still in the game

Trend: Buy/ Neutral

Support/Resistance:

R3: 143.222

R2: 142.467

R1: 141.982

S1: 141.141

S2: 139.355

Price action:

Market on GBPJPY currency pair is in bullish zone level, but it might go lower if the price breaks first buyers support level at 141.141 and might continue to 139.355 support level.

On the other side, if buyers are enough strong to break second resistance level and if they’re able to handle bears then we can expect bounce at third resistance level at 143.222.

To sum up, this trade might be risky to trade because still we need more proven data to see how the flow will decide. Eventhough it is good to trade this idea with Elite custom indicator that can catch H1 trade set ups. (recommended)

Potencial trade idea:

Bulls targets:

T1: 143.222

Bears targets:

T1: 139.355

NOTE – We are trading GBPJPY via the preferred trading setups

 

NZDUSD – Sellers are still dominant

Trend: Strong Sell

Support/Resistance:

R2: 0.64505

R1: 0.63932

S1: 0.63309

S2: 0.62813

Price action:

At the moment NZDUSD is moving forward in trending idea from our previous ideas. We caught all potencial targets. But as we can look forward, this currency pair is going to touch lower targets. Our expectation on this pair is to hold below resistance level at 0.63932 and following first buyers target at  0.63309 support level. This support level might slow the flow or go even straing lower to second potencial target at 0.62813 support level.

Potencial trade idea:

Bears targets:

T1: 0.63309

T2: 0.63309

NOTE – We are trading NZDUSD via the preferred trading setups

 

NZDCAD – We are waiting for another Sell

Trend: Strong Sell

Support/Resistance:

R3: 0.85714

R2: 0.85471

R1: 0.85066

S1: 0.84416

S2: 0.83445

Price action:

At the moment NZDCAD is moving very nicely in trending way. We can see this trade as more clear then NZDUSD in comparison. From overal point view we know that NZD is very weak pair but flow here is good for trading set up.

Our expectation on this pair is to hold below first resistance level at 0.85066. Retracement is expected on 4H timeframe. So the price may be moving forward to buyers first support level at 0.84416. If sellers can break that support level, then our overall target for now is at 0.83445 support level.

On the other side buyers still can bounce back for some time to resistance level at 0.85471. From that point we’ll still look this trade as a good Sell idea, but FOLLOW NEXT DAILY IDEAS and listen CEO’s LUKA EXPLANATION ON OUR ELITE INDICATOR FOR EXACT TRADING SET UP! (Recommended)

Potencial trade idea:

Bears targets:

T1: 0.84416

T2: 0.83445

NOTE – We are trading NZDCAD via the preferred trading setups

 

NZDJPY – Good trade to sell (High School Example)

Trend: Strong Sell

Support/Resistance:

R3: 71.600

R2: 71.097

R1: 70.523

S1: 70.013

S2: 69.253

S3: 68.652

Price action:

In this case for NZDJPY currency we are expectin this trade as a strong sell like we did for few NZD pairs. Right now we are in sellers trending idea and after breaking first support level at 70.013, this trade will be good to sell to 69.253 support level which is our first potencial target. For now overall potencial target is at level 68.652. For more on this pair you should follow our daily updates and DON’T FORGET to liste Daily Real Set Ups with Our Custom Indicator.

Potencial trade idea:

Bears targets:

T1: 69.253

T2: 68.652

NOTE – We are trading NZDJPY via the preferred trading setups

 

AUDNZD – Good looking buy

Trend: Strong Buy

Support/Resistance:

R3: 1.06508

R2: 1.06199

R1: 1.05512

S1: 1.04614

S2: 1.04132

Price action:

In this case AUDNZD currency pair is headed to new highs as following trending idea. From the flow, price have already broken very important level at 1.04614 which gave us dirrection and one more fact to set up long position for this currency pair. We are highly bullish for this pair on long term perioud, but first we need few more facts and one of them is retracement from the same broken level, which will then be new support level.

On the other side, if sellers will play out this game as a fake bull, which is hard to believe, then sellers might retrace to lower support levels.

Potencial trade idea:

Bears targets:

T1: 1.05512

T2: 1.06199

T3: 1.06508

NOTE – We are trading AUDNZD via the preferred trading setups

 

USDCHF – Buyers might just started the flow

Trend: Strong Buy

Support/Resistance:

R3: 0.98285

R2: 0.97969

R1: 0.97819

S1: 0.97688

S2: 0.97481

Price action:

At the moment USDCHF is still very bullish, but from fundamental reasons, we cannot say that this will move on tommorow. (Still can).

Overall perspective on this trade is very bullish, after buyers will break first resistance level. After that we can expect potencial target following (RECOMMENDED) exact levels on Custom Indicator and after breaking second resistance we can expect price to hit 0.98285 resistance level.

If buyers will not be able to continue long position then sellers might retrace to lower point such is 0.97481 support level.

 

Potencial trade idea:

Bulls targets:

T1: 0.97969

T2: 0.98285

Bears targets:

T1: 0.97481

NOTE – We are trading USDCHF via the preferred trading setups

 

USDCAD – Buyers on the way higher

Trend: Strong Buy

Support/Resistance:

R2: 1.33841

R1: 1.33289

S1: 1.33041

S2: 1.32566

Price action:

At the moment USDCAD is very bullish from USD momentum and CAD zero momentum. To follow this trade, buyers have to break first resistance level and then price can hit our first potencial target at 1.33841 resistance level.

On the other side, if price get denied from bullish idea, then sellers might test lower support levels.

 

Potencial trade idea:

Bulls targets:

T1: 1.33289

T2: 1.33841

Bears targets:

T1: 1.32566

NOTE – We are trading USDCAD via the preferred trading setups

 


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