For the EURUSD and GBPUSD, the have both changed the trend from down to up and therefore I will like to use this post to alert you guys about it.
Since my last post, I have done 21 trades from the 23rd to 26th March. As a whole, we still managed to grow our account further to 87.9% this month despite all the losses in the stocks markets at the moment
If you have $1,000 in your account, you will see that your account has $1,874.90 now which is a profits of $874.9 for this month so far
If you have $2,000 in your account, you will see that your account has $3,758.00 now which is a profits of $1,758 for this month so far
If you have $5,000 in your account, you will see that your account has $9,395.00 now which is a profits of $4,395 for this month so far
Now let us go to my analysis on the EURUSD and GBPUSD
As the price has broke above the 200 EMA on the hourly chart, it is very likely that it will push up to test the 400 EMA resistance
On the 4 hourly chart, the price is also approaching the 100 EMA as well.
If you have been reading my blog, you should know that I told you before that the strong level of support and resistance works like magnet. Price tends to be attracted to them as traders need to make sure that the level will hold before they start to trade based on the repulsion of it.
Therefore I will look to go LONG for this pair until it hits the 400 EMA on the hourly chart
In fact, we have a ongoing BUY trade at the moment for this pair
The GBPUSD has been repelled by the 200 EMA plus a major swing high on the hourly chart.
For this pair, I will wait for the price to break above the level of 1.19340 before I start to look for opportunity to go LONG again.
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