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Daily Trade Ideas & Chart Analysis by EliteFxAcademy, 12th of February, 2020

By February 12, 2020 April 23rd, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on February 12th, 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 12th 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:

NZDCHF – Waiting for breaking method to sell even lower if…

Trend: Sell/ Neutral

Support/Resistance:

R2: 0.62816

R1: 0.62728

S1: 0.62350

S2: 0.62171

S3: 0.61916

Price action:

Market on NZDCHF currency pair is still in bearish overall flow. The problem for sellers are buyers from previous daily bullish defense. That is one of the reason why this pair is showing Netrallity and not exact sell moment.

We can see potencial sell idea after breaking first support level at 0.62350 point. If sellers are able to hold position below this level, then you can sell to first target, where is based daily recent lower low flow. Our overall target in trending idea from H1 timeframe is at 0.61916 point. If nothing from that bearish idea will happen, then wait for next analysis and follow our youtube videos and trade suggestion as a bonus of our trading system.

Potencial trade idea:

Bears targets:

T1: 0.62171

T2: 0.61916

NOTE – We are trading NZDCHF via the preferred trading setups

 

GBPNZD – Good looking buy

Trend: Strong Buy

Support/Resistance:

R3: 2.05609

R2: 2.03502

R1: 2.02991

S1: 2.02059

S2: 2.00196

Price action:

In this case GBPNZD currency pair is headed to hit recent daily and weekly Higher High at 2.04030 daily resistance level. But first we have to break following resistance levels on the picture. At the moment we are in good bullish position. Buyers have already retrace, and next job is to follow this idea higher. Be also carefull on news event.

Potencial trade idea:

Bears targets:

T1: 2.03502

T2: 2.05609

NOTE – We are trading GBPNZD via the preferred trading setups

 

EURJPY – Sellers has to break channel first

Trend: Sell/ Neutral

Support/Resistance:

R3: 121.000

R2: 120.375

R1: 119.974

S1: 119.767

S2: 119.265

S3: 118.489

Price action:

Market on EURJPY currency pair is in bearish flow but first to set up new sell entry, price has to break channel to follow following lower targets. If not then buyers will test higher resistance levels. On the other side, if buyers are able to break resistance level at 120.375 point, we can expect price to hit channel resistance level.

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: 121.000

Bears targets:

T1: 119.265

T2: 118.489

NOTE – We are trading EURJPY via the preferred trading setups

 

EURCAD – Sellers are still dominant

Trend: Sell/ Neutral

Support/Resistance:

R3: 1.45778

R2: 1.45536

R1: 1.45190

S1: 1.44902

S2: 1.44508

Price action:

In this case EURCAD currency pair is still in bearish trending flow on lower timeframe. We are expecting price to test first resistance level, and after that if Our Custom Indicator will give us good entry, we’ll sell position. Out overall target on this trade is recent lower low level on weekly timeframe.

Bears targets:

T1: 1.44508

NOTE – We are trading EURCAD via the preferred trading setups

 

EURAUD – we are waiting for proving sell position

Trend: Sell/Neutral

Support/Resistance:

R2: 1.62809

R1: 1.62567

S1: 1.62256

S2: 1.61500

Price action:

In this case EURAUD currency pair is into overall bearish flow. At the moment this pair is looking buy on lower timeframe to confused any short term traders but from flow view on this pair we’re looking it as potencial sell idea to test 1.62256 support level. After testing this level, we’ll see how strong are buyers. This trade will be perfect to sell after price will hold below S1 if it comes to breakout of this support level. After that overall potencial target is based on second support which is not that crytical then we’ll have trouble with first support .

Potencial trade idea:

Bears targets:

T1: 1.62256

T2: 1.61500

NOTE – We are trading EURAUD via the preferred trading setups

 


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