All charts illustrated are traded on lower timeframes (W1 and D1). Bigger picture is related on higher timeframe, and lower timeframe is ment for making decisions. Furthermore, this market analysis is continuation trade from weekly analysis. This analysis is in use from, 4th to 8th of November.
Keywords: Elite strategy, Custom Indicator, Fundamental Analysis, Tehnical analysis, Price action, Advanced strategies, Trading Education
MARKET OVERLOOK:
Fundamentals:
Disclamer: We have to wait for a currency pair to trade after news are reliased. This might be a short correction, or price will give us moving dirrection after news are reliased.
Weekly Currencies Heat Map
TEHNICAL ANALYSIS:
AUDUSD – buyers have open position
Trend: Strong Buy
Support/Resistance:
R4: 0.70222
R3: 0.69921
R2: 0.69492
R1: 0.69172
S1: 0.68977
S2: 0.68695
Price action:
Buyers continued price very confident to the price level at 0.69126, where last daily candle closed. Buyers might relaxed for a while and give a chance to sellers to their first support but overall market price is now at very good buyers position, which is more ment to buy Aud then sell.
Potencial trade idea:
Bulls targets:
T1: 0.69492
T2: 0.69921
T3: 0.70222
NOTE – We are trading AUDUSD via the preferred trading setups
EURCHF – this pair is at risky level, where we have to wait for sell if we get sign
Trend: Sell/neutral
Support/Resistance:
R1: 1.10259
S1: 1.09775
S2: 1.08999
S3: 1.08375
Price action:
Buyers were keep going to break resistance level at ,but sellers showed first push few days ago very strong. If they will push again, then we know the answer, but if the buyers keep going and hold above first resistance level, then buyers will have open position.
Potencial trade idea:
Bears targets:
T1: 1.08999
T2: 1.08375
NOTE – We are trading EURCHF via the preferred trading setups
NZDCHF – Sellers face off stronger, now we’ll get answer from them
Trend: Sell/ Neutral
Support/Resistance:
R2: 0.63647
R1: 0.63361
S1: 0.63069
S2: 0.62908
Price action:
Sellers retraced very strong this time from candle patterns. But still the market is in smaller timeframe in buyers era. Untill sellers retrased perfectly from second support, we can’t say, sellers overtook the market. But still is might be very good sell based on patterns we can see.
Potencial trade idea:
Bulls targets:
T1: 0.63647
Bears targets:
T1: 0.63069
T2: 0.62908
NOTE – We are trading NZDCHF via the preferred trading setups
GBPJPY – Following Gbp trending is still showing performance to buy this pair
Trend: Strong Buy
Support/Resistance:
R3: 145.741
R2: 143.270
R1: 140.699
S1: 137.820
Price action:
Price hold above trending flow, which will first test Higher High levels and then we’ll see if Yen currency will deny again. Buyers are enough confidant to continue trending flow in buy way, but still depending on sellers answer retracement.
Potencial trade idea:
Bulls targets:
T1 = 140.699
T2 = 143.270
T3 = 145.741
NOTE – We are trading GBPJPY via the preferred trading setups
