The market has been moving sideway for this week so far. I have noticed a good trading opportunity on the EURUSD and GBPJPY and will like to share with you guys how to trade them today.
For the EURUSD, you can see that it is in a strong down trend. At the time of writing this post, the price has broke the 400 EMA and if it goes down to break below the 1.19922 support, you can enter a SELL trade on the EURUSD to ride the down trend
For the GBPJPY, you can see that it is moving within a trend channel as it is repelled by the support and resistance.
What I will do is to wait for the price to break above the 152.076 resistance to enter a BUY trade to ride the trend.
Do note that these 2 trades have a very good target profit of at least 75 pips each. I hope that this information is useful for your trading.
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