2023-12-29 • Updated
Hey friends, as we prepare for the new month, and the new year, here are some of my anticipated trade ideas for January. Do note, however, that these are long-term views and would therefore require patience as they unfold.
EURUSD on the Weekly timeframe has reached a supply zone, and price could begin to fall from that region. In addition to the supply zone, there are also other confluences present, including; the 200-period moving average resistance, the Fibonacci retracement level, Quassimodo reversal pattern, and a resistance trendline.
Analyst’s Expectations:
Direction: Bearish
Target: 1.08659
Invalidation: 1.11551
In the case of GBPUSD, price has not yet reached the supply zone. It is my expectation, however, that price would make a quick bounce away from the supply zone as soon as it reaches it. Another possible scenario is that price could begin to decline any time from now, provided that we get to see a change in the market structure (ChoCh).
Analyst’s Expectations:
Direction: Bearish
Target: 1.09328
Invalidation: 1.11535
The weekly timeframe of USDCHF presents us with an interesting scenario as we see price trading within the demand zone. Within this demand zone, I will be waiting patiently for a clear reversal pattern before I take a long position, however, I am certain the overall sentiment is bullish since price has not created a new lower high yet in recent times.
Analyst’s Expectations:
Direction: Bearish
Target: 0.85041
Invalidation: 0.82790
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
You can access more of such trade ideas and prompt market updates on the telegram channel.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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