empty
 
 
15.02.2022 11:52 AM
Ambitious plans, betting against USD

This image is no longer relevant

Hi, dear traders! Let me present you with my trading ideas for EUR/USD, GBP/USD, and AUD/USD.

The technical pictures on charts with larger timeframes reveal the common trend. All of them indicate that strong buying sentiment is emerging for major currency pairs. Now let's discuss such trading plans. At the emergency meeting yesterday, the Federal Reserve softened its rhetoric that undermined the US dollar's strength. The US central bank did not increase the official funds rate this time.

EURUSD

The trading instrument retraced 50% from a stunning rally that developed from historic lows reached in January. In light of yesterday's emergency meeting, EUR/USD revealed signs of a confident rise to update one-year highs and climb even higher.

This image is no longer relevant

GBPUSD

At the end of 2021, the currency pair was testing the 61.8% Fibonacci level following a powerful growth of 2020. Currently, GBP/USD is showing signs of growth to the ambitious target at 1.4444. The potential growth is measured at about 10,000 pips.

This image is no longer relevant

AUDUSD

Like GBP/USD, the currency pair has pulled back to the 61.8% Fibonacci level following a rally of 2020. At the moment, AUD/USD is reversing upwards with the potential growth of nearly 10,000 pips.

This image is no longer relevant

You might have noticed that all three trading instruments have formed similar wave structures and suggest would-be growth of about 10,000 pips!

It would be a good idea to pick any of them. Besides, you could plan long positions with all of them, distributing equal funds.

Another option is to enter the market with long positions from shorter time frames following your own trading strategy.

The trading ideas are offered in line with my own methods like Price action and Hunting for stop orders. Good luck in trading! Manage your risks!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback