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Weekly Trade Ideas & Chart Analysis by EliteFxAcademy 16th of February, 2020

By February 16, 2020 April 23rd, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on February 16th, 2020

All charts illustrated are traded on lower timeframes (W1 and D1, H4). 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 16th 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.

 

ELITE SYSTEM, 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.

Weekly Currencies Heat Map

 

TEHNICAL ANALYSIS:

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

Trend: Strong Buy

Support/Resistance:

R3: 0.75030

R2: 0.74591

R1: 0.74080 (still counted as resistance level)

S1: 0.73941

S2: 0.73200

Price action:

Market on CADCHF currency pair start getting more bullish then bearish . This analysis point for cadchf pair is not giving you straigt point where price will exactly go because we have to do some retracement first on 0.74080 resistance level and hold above by proving bullish momentum. After that we can reach up to second resistance level at 0.74591 which is very critical for next decisions. Our overall potencial target from buyers side is 0.75030 key level.

On the other side there is still posible that sellers might trick buyers, so we have to be carefull at currenct spot for continuation.

*We recommend you to follow price flow on our custom indicator which will give you better confidance and clear entries for following decision*

Potencial trade idea:

Bulls targets:

T1: 0.74591

T2: 0.75030

NOTE – We are trading CADCHF via the preferred trading setups

 

CHFJPY – Sellers on the track

Trend: Strong Sell

Support/Resistance:

R2: 112.111

S1: 111.768

S2: 111.373

S3: 111.034

Price action:

Market on CHFJPY currency pair is in buyers territory, but sellers are taking over buyers. If sellers can break first support then we can easily follow first target. If buyers are not able to defense from 111.373 support level, then sellers might continue to second target at 111.034.

Potencial trade idea:

Bears targets:

T1: 111.373

T2: 111.034

NOTE – We are trading CHFJPY via the preferred trading setups

 

GBPNZD – Buyers might continue way higher

Trend: Strong Buy

Support/Resistance:

R4: 2.08077

R3: 2.05600

R2: 2.04171

R1: 2.02991

S1: 2.02059

S2: 2.00027

Price action:

In this case GBPNZD currency pair is headed to hit recent weekly Higher High at 2.04171 resistance level. We are still in a very good bullish position, but first buyers has to prove enough momentum on retracement from 2.04171 previous daily high level. After we’ll follow targets.

Potencial trade idea:

Bulls targets:

T1: 2.04171

T2: 2.05600

T3: 2.08077

NOTE – We are trading GBPNZD via the preferred trading setups

 

 

GBPAUD – Buyers are getting confidance on bullish gbp

Trend: Sell/ Neutral

Support/Resistance:

R3: 1.98000

R2: 1.97580

R1: 1.95173

S1: 1.90928

S2: 1.90928

Price action:

In this case GBPAUD currency pair might tried break over first resistance level at 1.95173. After that we can see this as potencial buy to critical spot around 1.98000 level. If buy will not get proved, then we can see a delay on price level to first support at 1.90928. If this will happen, then our Elite indicator will tell us how to orient on this trad, because it will be tradeable on lower timeframe too.

Bull targets:

T1: 1.95173

T2: 1.98000

NOTE – We are trading GBPAUD via the preferred trading setups

 

NZDJPY – we are waiting on decision

Trend: Neutral

Support/Resistance:

R3: 71.815

R2: 71.300

R1: 70.800

S1: 70.523

S2: 70.013

S3: 69.253

Price action:

In this case NZDJPY currency pair closed in buyers spot level which is currently neutral from both sides perspective, till we don’t get more information on this flow. Trade would be good to sell after breaking second support level to continue to 69.253 support level. On the correct side, if buyers will have enough power, then they are able to test critical resistance level.

Potencial trade idea:

Bulls targets:

T1: 71.300

T2: 71.815 (critical resistance level)

Bears targets:

T1: 70.013

T2: 69.253

NOTE – We are trading NZDJPY via the preferred trading setups

 

USDCHF – Buyers on the way to higher levels

Trend: Strong Buy

Support/Resistance:

R3: 0.99085

R2: 0.98633

R1: 0.98285

S1: 0.97902

S2: 0.97481

Price action:

At the moment USDCHF is still and still bullish.

Overall perspective on this trade is very bullish , after buyers will break first resistance level this trade will be even more perspective to critical bearish critical resistance level at 0.98633. (At the moment buyers have already proved that they are stronger to sellers.)

Potencial trade idea:

Bulls targets:

T1: 0.98633

T2: 0.99085

NOTE – We are trading USDCHF via the preferred trading setups

 


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