Trading strategy: Long
Open: 1.2330
Target: 1.2550
Stop-loss: 1.2245
Recommended size: 2.11 mini lots per $10,000 in your account
Short analysis: EUR/USD broad consolidation persists and monthly RSI is biased up. The trendline off February's high helps limit the upside and the pair slips back below the 10 and 21-day SMAs as well as the daily cloud top. Signals are mixed.
Trading strategy: Long
Open: 1.4085
Target: 1.4300
Stop-loss: 1.3985
Recommended size: 2.00 mini lots per $10,000 in your account
Short analysis: A spike to 1.4220 and equally sharp pullback give a hanging man signal. However, we see pullbacks as buying opportunities for a run back to the high from early February.
Trading strategy: Short
Open: 106.00
Target: 1004.00
Stop-loss: 107.00
Recommended size: 2.12 mini lots per $10,000 in your account
Short analysis: USD/JPY broke below previous 2018's 105.24 and is getting lower. We keep our bearish view with the target at 104.00.
Trading strategy: Short
Open: 1.2900
Target: 1.2600
Stop-loss: 1.3050
Recommended size: 1.72 mini lots per $10,000 in your account
Short analysis: The USD/CAD broke below 14-day EMA (1.2933) for the first time since mid-February. This could be a bearish signal.
Trading strategy: Await signal
Open: -
Target: -
Stop-loss: -
Recommended size: -
Short analysis: Wednesday’s jump and close above a 7-day EMA was a false signal. Latest rally stalls by the 21-day SMAs and short of the 200-day SMA. The ensuing slide sees RSIs biased down again and a long upper wick form on the monthly candle. An important support level is 0.7673 low on March 20.
Trading strategy: Await signal
Open: -
Target: -
Stop-loss: -
Recommended size: -
Short analysis: Pair sets a new low and RSIs are biased down to keep the overall bear view intact. On the other hand, the long lower wick on yesterday's candle suggests a bounce is due. We will wait for clearer signals before entering a new position.
Trading ideas by MyFXspot.com