This week, there are a few high-probability trade ideas I’d like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
GBPAUD
After price initially broke below the low marked with the horizontal arrow, we see price create a possible retracement move up towards the Moving Average array. At the top of the previous high we also see a rally-base-drop supply zone and the 200-Period moving average acting as confluences in support of a bearish reaction from the marked supply.
Analysts’ Expectations:
- Direction: Bearish
- Target: 1.73020
- Invalidation: 1.76390
EURCAD
EURCAD is currently in an interesting zone. Price can be seen seemingly trying to decide whether to go a bit lower, to tap into the demand order block, or to simply react from the current area of support. Either way, there is a high probability that the price would go bullish anytime from now.
Analysts’ Expectations:
- Direction: Bullish
- Target: 1.45625
- Invalidation: 1.44050
NZDUSD
If you check NZDUSD on the Daily timeframe, you will notice that the 50-period Moving Average has already crossed above the 200-Day MA (Moving Average). When you correlate that with the chart above, you will see why I have chosen this particular setup for the week. After the break above, the high marked by the horizontal arrow, price comfortably established a bullish trend. This is why I am positive that price would provide us ample trading opportunities from the drop-base-rally demand order block.
Analysts’ Expectations:
- Direction: Bullish
- Target: 0.68370
- Invalidation: 0.61080
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
