Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of February 14th 2025 is here. It is now time to recap and summarize the trade setups that we had during this week. Below you will find a short explanation of all the trade setups we had this week and how it has currently developed now.
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EURCAD – My idea here was “On the H1 chart, based on the Heikin Ashi candles we can see that currently, we have strong bearish bodies in downward-moving market conditions so it basically reflects a bearish environment. In addition to this, the price which is moving lower has created a bearish trend pattern in the form of three lower highs, and lower lows which we may consider as evidence of bearish pressure. Generally, after a bearish trend pattern, we may expect corrections and then a further continuation lower. Currently, it looks like a correction is happening. Also, we had a strong support zone that has formed and the price which is moving lower has broken below this zone and is holding below it, we may consider this as yet another evidence of bearish pressure. Currently, this strong support zone is acting as a strong resistance zone for us. Until this strong resistance zone (marked in red) shown in the image below holds my short term view remains bearish here and I expect the price to move lower further after pullbacks”.
Current Scenario – My plan still remains the same in EURCAD, that is until the strong resistance zone shown in the image below holds my short term view remains bearish here and I expect the price to move lower further.
EURNZD – My idea here was “On the H1 chart, the price which was moving lower reached a strong support zone, respected it and bounced higher from this zone. Also, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. Also, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as another evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. In addition to this, the ADX indicator gave a bullish signal here at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. So everything looks good here for the bulls and until the strong support zone (marked in green) shown in the image below holds my short-term view remains bullish here and I expect the price to move higher further after pullbacks”.
AUDJPY – My idea here was “On the H1 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. Also, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as another evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. In addition to this, there are no signs opposing this short term bullish view at the moment. Currently, it looks like a correction is happening and in addition to this, based on the Stochastic Oscillator we could see that the price has reached it’s extreme. Also we had a strong resistance zone that have formed and the price which is moving higher has broken above this zone and is holding above it. After the breakout, this strong resistance zone is acting as a strong support zone for us. So everything looks good here for the bulls and until the strong support zone (marked in green) shown in the image below holds my short-term view remains bullish here and I expect the price to move higher further after pullbacks”.
Current Scenario – In AUDJPY, the price action is following the bullish expectations so far. Until the strong support zone holds my short-term view still remains bullish here and I expect the price to move higher further after pullbacks.
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Happy Trading!
Arvinth Akash
Home Trader Club Team.
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