Weekly Price Action Trade Ideas – 11th to 15th Jan 2021

Markets Discussed in This Week’s Trade Ideas: AUDCHF, CADJPY, EURAUD, and GBPAUD.

Note: We Use Correct ‘New York Close 5 Day Charts’ – You can read about why we use these and how to download the correct free charts at Correct Free New York Close Demo Charts

 

AUDCHF Daily Chart

• Watching for Long Trades

Price action on the higher time frames of this pair has been trending higher for months on end now. In the last few months the trend has been particularly strong.

Until this trend changes and we get some shift in momentum to the downside, the best trades look to be with the strong trend higher.

Price has just recently broken higher and through a swing high resistance level. This level could look to become a new price flip level and a level of new support.

If we can see price move into this level in the coming sessions we could look for new potential long trades.

Daily Chart

 

CADJPY Daily Chart

• Will Resistance Hold?

Price on this pair has been in a sideways range for some time now.

As the daily chart shows; price has now moved higher and into a key swing high resistance level.

If we can get some bearish rejection at this level it could be a solid level to start looking for new potential short trades and for the ranging price action to continue.

Daily Chart

 

EURAUD Daily Chart

• Looking for Rotation Higher

Price is now looking to continue on with the recent downtrend it has been forming.

As the daily chart shows; price has recently formed a series of lower highs and lower lows in a short term trend lower.

Looking to make trades with this short term momentum looks the best play at the moment.

Just overhead is a key daily resistance level and if we can get a pullback into this level it could be a solid level to look for new potential short trades.

Daily Chart

 

GBPAUD Daily Chart

• Daily Chart Inside Bar at Support

Price on the daily chart of this pair is in a tug of war. Whilst price is sitting on the daily chart support level, it has also formed an inside bar.

If we can see price pop higher from here it could move into the overhead resistance.

This daily resistance could be a solid level to look for the overall range to continue and for new potential short trades.

Daily Chart

 

Trade Ideas Note: All views, discussions and posts in the ‘charts in focus trade ideas’ are the view of Forex School Online and are not recommendations or trading advice. All posts are general in nature and are not advice to buy or sell.

Note: We Use Correct ‘New York Close 5 Day Charts’ – You can read about why we use these and how to download the correct free charts at Correct Free New York Close Demo Charts

 

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