24 JAN MARKET ANALYSIS24 JAN MARKET ANALYSIS(This is neither a recommendation nor an advice, it is meant for educational purpose only)Eur AudThe Eur Aud has been on a down trend for a long time. As seen in the weekly chart, price has now retrace up to the 25 ema. Which is a good sign to short.

On the daily time frame, price too has reached the 150 ema. This is as mentioned in our course by playing at the first touch.Although fundamentally, nothing seems to support these move. But we will wait for price action confirmation.

Eur UsdThe Eur Usd was mentioned before that it should break up from the daily 365. If price continues its move up, we can tp at the highlighted blue box area which is marked by previous lows and high.

Gbp AudThe Gbp Aud – few days back, it formed a pin bar off the 10 ema. That was a good entry point and take profit will be at the 150 ema. With some leeway of course.What happens now is that on the weekly chart, the gbp aud retraces up to the 25ema. This calls for a short and the daily 150 coincides with it. This pair is highly similiar with the eur aud. Lets wait for price action confirmation.

Gbp JpyThe Gbp Jpy – As we can see, this pair has been making a down trend with a constant retracement up to the 150ema. On the last movement when price touch the 150. If we played a touch entry and shorted it, we have yielded very good pips with a trailing stop.So now price retraces up to the 150 yet again. For traders with a large risk appetite, you can do a sell off yet again, with the stop loss above the blue box area as that was the previous high. If price breaks the previous high, it means that the trend is reversing to break the lower high and lower low.

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