Daily technical & fundamental analysis for multi-forex pairs

[luckyanand12]

Going back to previous plan of EUR and GBP, that I had since Jan 2 till Jan 6

It's always good to cut your losses short and move on to trend's direction.

 

[luckyanand12]

Sell NZD/USD | Jan 07, 2020

 

[luckyanand12]

Buy USD/CAD | Jan 7, 2020
Strength of USD got combined with weakness of CAD today. USD/CAD broke the rectangle to the upside unexpectedly against the trend. Therefore, we entered buy.

Fib 61.8 of recent swing on H4 makes a confluence resistance with Fib 38.2 of whole swing down on D1. That is where we set TP. The confluence resistance areas is near to previous swing low, which also is a natural resistance level.

The 3 Drive pattern made on daily/D1 time-frame is a reversal pattern. Even if it will fail to cause full reversal, it can at least cause enough upward retracement to reach TP.

Risk: If USD/CAD returns back to downside and closes below rectangle, the buy setup will fail.

 

[luckyanand12]

EUR USD analysis | Jan 9, 2020

 

[luckyanand12]

GBP/USD analysis by, Jan 9, 2020

 

[luckyanand12]

USD/CHF analysis | Jan 9, 2020

 

[Christina Ledger]

eyes on the majors today,making some time for GBP JPY though right now. pips to be caught today!

 

[luckyanand12]

Buy USD/CAD | Jan 7, 2020
Strength of USD got combined with weakness of CAD today. USD/CAD broke the rectangle to the upside unexpectedly against the trend. Therefore, we entered buy.
View attachment 49690

Fib 61.8 of recent swing on H4 makes a confluence resistance with Fib 38.2 of whole swing down on D1. That is where we set TP. The confluence resistance areas is near to previous swing low, which also is a natural resistance level.
View attachment 49691


The 3 Drive pattern made on daily/D1 time-frame is a reversal pattern. Even if it will fail to cause full reversal, it can at least cause enough upward retracement to reach TP.
View attachment 49692

Risk: If USD/CAD returns back to downside and closes below rectangle, the buy setup will fail.

Target was reached.

 

[luckyanand12]

Target had been reached.

 

[luckyanand12]

GBP/USD analysis | Jan 10, 2020