Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of May 9th 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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Trading Ideas (Blog Posts)
AUDNZD – My idea here was “On the M15 chart, we could see that currently we have a strong bearish momentum here as well. Also while measuring this strong bearish move we have two key resistance zones that has formed. The first key resistance zone is formed based on the 23.6%(1.07971) – 38.2%(1.08077) Fibonacci retracement levels of the strong bearish move. The second key resistance zone is formed based on the 50%(1.08163) – 61.8%(1.08250) Fibonacci retracement levels of the strong bearish move. Until both these key resistance zones shown in the image below (marked in red) holds my short term view remains bearish here and I expect the price to move lower further after pullbacks”.
Current Scenario – In AUDNZD my short term view was bearish and I was expecting the price to move lower further after pullbacks until the two key resistance zones hold. The price action didn’t follow my analysis and this idea failed. The price which was moving higher reached the second key resistance zone and provided a short move to the downside. The price then moved higher and broke above both the key resistance zones. My current view on AUDNZD is neutral.
NZDCAD – My idea here was “On the M15 chart, we had a bearish divergence that has formed between the first high that has formed at 0.82664 and the second high that has formed at 0.82933 based on the MACD indicator, we may consider this as evidence of bearish pressure. The price then moved lower and broke below the most recent uptrend line, which we may consider as another evidence of bearish pressure. So the bottom line here is that, everything looks good here for the bears and I expect the price to move lower further in the short term after pullbacks until the strong resistance zone (marked in red) shown in the image below holds”.
Current Scenario – In NZDCAD, based on the above-mentioned analysis, until the strong resistance zone holds I was expecting short term bearish moves to happen here. The price action followed my analysis exactly as I expected it to here. We had a pullback and then the price moved lower and delivered a nice move to the downside!
EURNZD – My idea here was “On the M15 chart, we have a strong bullish momentum and also currently there are no signs opposing this short term bullish view. In addition to this, the ADX indicator gave a bullish signal here as well 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. Also while measuring this strong bullish move we have two key support zones that has formed. The first key support zone is formed based on the 23.6%(1.90115) – 38.2%(1.89761) Fibonacci retracement levels of the strong bullish move. The second key support zone is formed based on the 50%(1.89475) – 61.8%(1.89189) Fibonacci retracement levels of the strong bullish move. Until both these key support zones shown in the image below (marked in green) holds my short term view remains bullish here and I expect the price to move higher further after retraces”.
Current Scenario – Based on the above-mentioned analysis “until both the key support zones hold my short term view was bullish here and I expected the price to move higher further after retraces”. The price action followed my analysis, respected the first key support zone and provided a nice move to the upside!
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Happy Trading!
Arvinth Akash
Home Trader Club Team.
