EUR/USD
Trading strategy: Long
Open: 1.2200
Target: 1.2500
Stop-loss: 1.2085
Recommended size: 1.74 mini lots per $10,000 in your account
Short analysis: The EUR/USD managed to register a daily close below the cloud base which is currently at 1.2236. We think the pair is little oversold now and there is no explanation for further sell-off from the fundamental point of view. We opened a long EUR/USD position at current market price.
GBP/USD
Trading strategy: Long
Open: 1.3940
Target: 1.4300
Stop-loss: 1.3820
Recommended size: 1.67 mini lots per $10,000 in your account
Short analysis: We think that a steep five-day bear run is coming to an end. A failure to drop below 1.3902 daily cloud base could trigger a rebound, which is our baseline scenario. We opened GBP/USD long at 1.3945.
USD/JPY
Trading strategy: Await signal
Open: -
Target: -
Stop-loss:-
Recommended size: -
Short analysis: USD/JPY bias remains firmly on the upside, the scope is for gains towards key Fibo levels above 109.00. USD/JPY bulls have steadily made their way further up the thick daily cloud which currently spans the wide 106.73-109.32 region. On the other hand, we see that market picture is changing and the USD rally may be coming to an end.
USD/CAD
Trading strategy: Short
Open: 1.2835
Target: 1.2400
Stop-loss: 1.2930
Recommended size: 1.93 mini lots per $10,000 in your account
Short analysis: The USD/CAD broke above 50% retrace of the March-April fall and the next resistance would be 1.2897 (61.8% Fibo). In our opinion the USD rally is coming to an end and we opened a short USD/CAD position with a stop-loss above the 1.2900.
AUD/USD
Trading strategy: Long
Open: 0.7605
Target: 0.7760
Stop-loss: 0.7530
Recommended size: 2.00 mini lots per $10,000 in your account
Short analysis: Technical analysis suggests that bear sentiment increases as the pair sets a new trend low after breaking the 76.4% Fibo of 0.7501-0.8136 and the December 14 low, but we see some signs of improvement in risk appetite today. In our opinion a long position could be a good idea now, because all bad news for AUD/USD bulls have been already priced in.
EUR/GBP
Trading strategy: Await signal
Open: -
Target: -
Stop-loss: -
Recommended size: -
Short analysis: Doji candles on Fridady and on Monday suggest market indecision and a loss of direction. In our opinion signals are not clear enough to open a trading position here.
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