EURUSD
Market trend
In the daily chart, the market turns to the downtrend. The market is testing the support level 1.07880 now. If the market breaks above this support level successfully, the market will moves to the lowest support level 1.06870 soon.
In the four hours chart, the market is in the sideways trend. The market is near the bottom of the sideways trend, it is an ideal level to long the market.
Trading Plan
A bearish bat pattern is spotted in one hour chart, it provides a potential reversal level from 1.08770 to 1.087630. The potential reversal level is near the resistance level 1.08870 ( Blue line). I will wait for the market to reach 1.08770. If the market gives me confirmational signals, then I will decide should I short the market.
Trade Ideas
Short limit: 1.08330
SL: 1.09160 (-33pips)
TP1: 1.08220 (+61pips)
TP2: 1.07850 (+98pips)
Risk/Reward Ratio: 2.97
GBPUSD
Market Trend
In the daily chart, the market is in the uptrend. It creates two resistance level, the lower one is 1.24500, the higher one is 1.26100. Now the market going to test support level 1.22080. If the market breaks below it successfully, the market may turn to the downtrend.
In the four hours chart, the market stays in the sideways trend now. If the market breaks below the bottom of the sideways trend, the market may turn to the downtrend. A bearish trend line is spotted, the market may follow this trend line.
Trading Plan
I have two trading plans in this market. The pink bearish bat pattern provides a potential reversal level from 1.24950 to 1.24850. The blue bullish bat pattern provides a potential reversal level is around 1.22180. I will wait for the market to reach one of a potential reversal level.
Trade Ideas
Sell Limit: 1.25040
SL: 1.25500 (-46pips)
TP1: 1.24040 (+100pips)
TP2: 1.23440 (+160pips)
Risk/Reward Ratio: 3.48
USDJPY
Market trend
In the daily chart, the market is in the sideways trend now and it is testing the support level 107.190. If the market breaks below 107.190, it means the market turns to the downtrend. If not, it means the market is still in the sideways trend.
In the four hours chart, the market is in the sideways trend. Now the market is near the support level 107.030, it is an ideal level to long the market.
Trading Plan
A bearish bat pattern is spotted in four hours chart, it provides a potential level from 109.100 to 108.970. I will wait for the market to reach 109.100 first. If it gives me confirmation signals, then I will decide should I short the market.
Trade Ideas
Sell limit: 109.150
SL: 109.670 (-52pips)
TP1: 108.280 (+87pips)
TP2: 107.740 (+141pips)
Risk/Reward Ratio: 2.71
Market trend
In the daily chart, the market is in the uptrend. A clear bullish trend line is spotted in the chart. Also, the market created two resistance level, one is 0.61700, the other one is 0.64400.
In the four hours chart, the market keep created a few higher low points. Notice the market does not create a higher high point recently. If traders want to do a long trade, the market breaks above the resistance level 0.64410 will be a key signal for us to confirm the uptrend is starting again.
Trading Plan
A bullish bat pattern is spotted in four hours chart, it provides a potential reversal level from 0.61540 to 0.61340. This signal is a follow trend trade. I will wait for the market to reach 0.61340, then try to long the market.
Trade Ideas
Buy Limit: 0.61340
SL: 0.60760 (-58pips)
TP1: 0.62500 (+116pips)
TP2: 0.63260 (+192pips)
Risk/Reward Ratio: 3.31
USDCHF
Market Trend
In the daily chart, the market is in the uptrend. The recent high point is 0.98590. The market is going to test this resistance level soon.
In the four hours chart, the market is in the sideways trend. Now the price is near the top of the sideways trend, it is an ideal level for traders to short the market.
Trading Plan
A bearish bat pattern is completed in four hours chart, it provides a potential reversal level from 0.97800 to 0.97740. The potential reversal level is near the top of the sideways trend, it means that this signal is spotted at an ideal level. I will wait for the market back to 0.97800 then short the market.
Trade Ideas
Sell limit: 0.97900
SL: 0.98250 (-35pips)
TP1: 0.97140 (+76pips)
TP2: 0.96680 (+122pips)
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TRADE IDEAS IS PROVIDED BY FOREX100 ACADEMY PTE LTD FOR GENERAL INFORMATION PURPOSE ONLY,
WITHOUT TAKING INTO ACCOUNT ANY RECIPIENT IN CONSIDERING THE MERITS OF ANY PARTICULAR
TRANSACTION AND DOES NOT PURPORT TO CONTAIN ALL OF THE INFORMATION THAT AN INTERESTED PARTY MAY
DESIRE. IT IS NOT AN OFFER TO BUY OR SELL, OR A SOLICITATION TO INVEST IN OR REFRAIN FROM INVESTING IN,
ANY SECURITIES OR OTHER INVESTMENT PRODUCT. TRADE IDEAS HAS NOT BEEN FILED, LODGED, REGISTERED,
REVIEWED OR APPROVED BY ANY REGULATORY AUTHORITY IN ANY JURISDICTION ANY RECIPIENTS OF THE
TRADE IDEAS SHOULD KEEP THEMSELVES INFORMED OF, AND COMPLY WITH AND OBSERVE, ALL APPLICABLE
LEGAL AND REGULATORY REQUIREMENTS. THE DISTRIBUTION OF THE TRADE IDEAS IN CERTAIN JURISDICTIONS
MAY BE RESTRICTED BY LAW AND, ACCORDINGLY, RECIPIENTS OF THIS TRADE IDEAS REPRESENT THAT THEY ARE
ABLE TO RECEIVE THIS TRADE IDEAS WITHOUT CONTRAVENTION OF ANY UNFULFILLED REGISTRATION
REQUIREMENTS OR OTHER LEGAL RESTRICTION IN THE JURISDICTION IN WHICH THEY RESIDE OR CONDUCT
BUSINESS. NOTHING IN THIS TRADE IDEAS CONSTITUTES INVESTMENT, LEGAL, TAX, ACCOUNTING OR OTHER
ADVICE. THE RECIPIENT SHOULD CONSIDER ITS OWN FINANCIAL SITUATION, OBJECTIVE AND NEEDS, AND
CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND ASSESSMENTS OF THE CONTENTS OF THE TRADE IDEAS,
INCLUDING OBTAINING INVESTMENT, LEGAL, TAX, ACCOUNTING AND OTHER ADVICE AS IT CONSIDERS
NECESSARY OR APPROPRIATE. ANY COSTS INCURRED BY RECIPIENTS IN MAKING SUCH INVESTIGATIONS AND
ASSESSMENT, ETC., ARE NOT THE RESPONSIBILITY OF FOREX100 ACADEMY PTE LTD OR ANY OF THEIR
RESPECTIVE ADVISER, DIRECTORS EMPLOYEES
DISCLAIMER TRADE IDEAS IS PROVIDED BY FOREX100 ACADEMY PTE LTD FOR GENERAL INFORMATION PURPOSE ONLY, WITHOUT TAKING INTO ACCOUNT ANY RECIPIENT IN CONSIDERING THE MERITS OF ANY PARTICULAR TRANSACTION AND DOES NOT PURPORT TO CONTAIN ALL OF THE INFORMATION THAT AN INTERESTED PARTY MAY DESIRE. IT IS NOT AN OFFER TO BUY OR SELL, OR A SOLICITATION TO INVEST IN OR REFRAIN FROM INVESTING IN, ANY SECURITIES OR OTHER INVESTMENT PRODUCT. TRADE IDEAS HAS NOT BEEN FILED, LODGED, REGISTERED, REVIEWED OR APPROVED BY ANY REGULATORY AUTHORITY IN ANY JURISDICTION ANY RECIPIENTS OF THE TRADE IDEAS SHOULD KEEP THEMSELVES INFORMED OF, AND COMPLY WITH AND OBSERVE, ALL APPLICABLE LEGAL AND REGULATORY REQUIREMENTS. THE DISTRIBUTION OF THE TRADE IDEAS IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW AND, ACCORDINGLY, RECIPIENTS OF THIS TRADE IDEAS REPRESENT THAT THEY ARE ABLE TO RECEIVE THIS TRADE IDEAS WITHOUT CONTRAVENTION OF ANY UNFULFILLED REGISTRATION REQUIREMENTS OR OTHER LEGAL RESTRICTION IN THE JURISDICTION IN WHICH THEY RESIDE OR CONDUCT BUSINESS. NOTHING IN THIS TRADE IDEAS CONSTITUTES INVESTMENT, LEGAL, TAX, ACCOUNTING OR OTHER ADVICE. THE RECIPIENT SHOULD CONSIDER ITS OWN FINANCIAL SITUATION, OBJECTIVE AND NEEDS, AND CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND ASSESSMENTS OF THE CONTENTS OF THE TRADE IDEAS, INCLUDING OBTAINING INVESTMENT, LEGAL, TAX, ACCOUNTING AND OTHER ADVICE AS IT CONSIDERS NECESSARY OR APPROPRIATE. ANY COSTS INCURRED BY RECIPIENTS IN MAKING SUCH INVESTIGATIONS AND ASSESSMENT, ETC., ARE NOT THE RESPONSIBILITY OF FOREX100 ACADEMY PTE LTD OR ANY OF THEIR RESPECTIVE ADVISER, DIRECTORS EMPLOYEES
