Forex Day Trading Idea - 9 June 2020 - By Vladimir Ribakov

Hello traders, good morning, good day. Vladimir Ribakov here from Traders Academy Club. This video is a day trading idea. Today we are on 9th of June 2020. I hope you are well and safe and you are doing well. And today on the list will be the euro versus the Aussie. But before I start, if you are new to the channel, first of all, welcome to our community, and I would like to invite you to subscribe to the channel. Just follow the subscribe button below this video, and please remember to enable the notifications so you are notified when there is new content available for you. As well, I would like to invite you to join our trading club, the Traders Academy Club. And to join our free Telegram channel where you can enjoy our daily posts and trading ideas shared in the community. Both links could be found below this video in the description or in the comment section inside the pinned comment. So the euro versus the Aussie, what do we have on this pair and why is it so interesting? Very strong zone around the psychological level one. 60. As you can see, we have a good hold. This is also a key supportive zone. Many times it was holding this area. As for now, there is a bullish divergence developing here on the moving average of the MACD, right here. And let's go a bit reduce that. And I don't know to say if the day will end like this, but so far this candle looks like a good potential engulfing. Dropping to lower time frame, we can see also a good slowdown and holding here with a bullish divergence on the MACD and also the RSI. The most recent dynamic resistance we have here is broken. And if we go lower, the 1-hour chart starts interestingly to develop here some impulsive wave, which on the lower time frame can be found as trending structure. So from my point of view, and I might be wrong here, but as long as that momentum holds, I think This is the beginning of— sorry— of something deeper. Now, will that be the beginning of an uptrend or not? It's too early to judge, but I think that the way that currently the price develops and, and holds, this is a very interesting structure. And after the corrections, I expect the price to try and push. Higher. So I would personally want to see a new high above this area, and ideally even above this area being retested before we would be able likely to understand is that something for the longer term or is that just a short-term temporary correction. So my personal view here is bullish. Let me know what do you think about the euro Aussie. In the comment section below this video. Also, if you find this idea and generally these videos and ideas shared with you in the YouTube channel, please show your support back. Hit the like button, drop some feedback below in the comments. Your support is a big help to the channel. Also, a reminder, this video is completely free for the community, so feel free to share it with anyone who you believe could have a benefit by watching it. And the last thing which I want to show here for the short term regards the, uh, EUR/AUD is if you take a look on the SRS candle patterns, look what happens here on this zone from a very strong bearish control by very powerful hold and control by the bears. As you can see the candles, we are switching it, and right now we start to see many more candles becoming into the blue area. Also very important to pay attention that the 1-hour chart is fully bullish as well on the last candles, and the 4-hour chart joined that recently. That's another good, um, consideration that the short-term Bullish pressure to the upside might continue with the correction, after the correction, of course. So that's all for today. Thank you very much for watching. I wish you a fantastic day and a week ahead, and I'll see you soon with more content ideas available. Thanks for your time. Yours Vladimir Bakov, Traders Academy Club.