Daily Market Update: EURUSD & AUDUSD – Jan 16th, 2025
NOTE: This market newsletter is based on analysis conducted using the daily chart timeframe. Each market discussed is accompanied by a corresponding price chart for clarity and reference.
EURUSD: Selling On Retracement Higher To Within The Range Of Bearish Pin Bar Signal
Comments: Price formed a Bearish Pin Bar Signal just below the 1.0331 – 1.0341 short-term resistance area, overnight.
Price moved slightly higher from the recent Bullish Pin Bar Signal that had formed on Monday, Jan 13th (We did not consider trading this signal, nor did we mention it).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the current Bearish Pin Bar Signal that had formed overnight.
Sell Limit: 1.0305
Stop Loss: 1.0370
Take Profit: 1.0175
Risk Reward: 1:2
To Trade This Market With Our Preferred Broker, CLICK HERE
AUDUSD: Selling On Retracement Higher To Within The Range Of Double Bearish Pin Bar + Inside Bar (Combination Setup)
Comments: Price moved briefly lower from the recent Double Bearish Pin Bar + Inside Bar (Combination Setup) that had formed just below the 0.6275 – 0.6302 short-term resistance area on Tuesday, Jan 7th (We had been suggesting selling on a retracement higher into the range of this signal since Jan 9th daily newsletter).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the recent Double Bearish Pin Bar + Inside Bar (Combination Setup) that had triggered on Wednesday, Jan 8th, with stops above the high of the Mother Bar (First Bearish Pin).
Sell Limit: 0.6255
Stop Loss: 0.6315
Take Profit: 0.6145
Risk Reward: 1:2
To Trade This Market With Our Preferred Broker, CLICK HERE
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
