Trade Ideas & Chart Analysis Disclaimer: The below analysis should not be considered as considered financial advice or a recommendation to trade or invest in any financial product. Your individual circumstances and risk allowance have not been taken into consideration and are thus not reflected in the below analysis. The below is for educational purposes only. Read our full Risk warning and disclaimer here.
All scenarios are based on 'IF/THEN' scenarios that the Bindal FX traders map out and use whether it be on swing trades shown below, or intraday trades used in the Bindal FX LIVE room every day. If the price does not map out to the plan, we simply move on and look for a new opportunity rather than trying to 'manufacture' a position - to learn more about how to join our LIVE Trading Broadcasts and LIVE Trading Webinars email support@bindalfx.com
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Key Support: 1.8630
Key Resistance: 1.9780
GBPNZD - this is a potential aggressive long that could set up next week -aggressive because at this moment in time the higher time frame trend is still bearish, but if the long entry does set up the potential risk to reward on this looks very appealing. In order to take the long we will be looking for a clean move above the Bindal Green Pivot followed by a retest (1-2-3). Should the retest hold, we will look to take longs with stop losses just below green pivot.
Short Term Trend: Bearish
Key Support: 1.0670; 1.0510
Key Resistance: 1.0800; 1.0870
EURCHF - after breaking down through key support the previous week, last week price spent consolidating below the break. This is a fairly simple play that we are looking at - We do not chase the breakout, so we were looking for a nice orderly pullback which has developed over the last week. We are looking for a small pull further up early next week, and on break of the retracement trendline looking to take a short just below the Bindal Green Pivot, with possible first target at around the key support level of 1.0670, followed by 1.0510 if the momentum is really there to take it down.
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