15.02.202211:52 Forex Analysis & Reviews: Ambitious plans, betting against USD

Long-term review

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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.

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.

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.

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!

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