Daily Chart Setups - 17 Jan 2023

Here are today’s directional views from our market research desk! These can be starting points for your own research to identify opportunities that suit your trading charts and trading style. Like what you see? Feel free to forward this to a friend!

Please note that the analysis presented in the charts below should not be considered investment or trading advice. They are for educational purposes only and you should consider seeking advice from an independent financial advisor.

EURUSD 1 Hour Chart

EURUSD 1 Hour Chart
EURUSD 1 Hour Chart

Chart Action Points - EUR/USD 1 Hour Chart

Action: Potential buy positions above 0.9320Action: Potential sell positions below 1.0828
Take Profit 1 (TP1) at 1.0860Take Profit 1 (TP1) at 1.0803
Take Profit 2 (TP2) at 1.0890Take Profit 2 (TP2) at 1.0780

Comments

  1. RSI Indicator losing momentum, dropping from the midline level.
  2. A Potential Head and shoulder in formation.

GBPUSD 4 Hour Chart

GBPUSD 4 Hour Chart
GBPUSD 4 Hour Chart

Chart Action Points - GBP/USD 4 Hour Chart

Action: Potential buy positions above 1.2180Action: Potential sell positions below 1.2135
Take Profit 1 (TP1) at 1.2242Take Profit 1 (TP1) at 1.2135
Take Profit 2 (TP2) at 1.2317Take Profit 2 (TP2) at 1.2091

Comments

  1. RSI Indicator could bounce back from the midline support.
  2. Triangle pattern indicating of potential recovery above the Pivot point.  

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