I hope that you guys have a fruitful trading week so far.
In this post, I am going to share with you my analysis on the 3 pairs listed above.
1) EURUSD Analysis
For the EURUSD, we have entered a BUY trade on this pair on Friday and currently it is 5 pips in our favor only. I will expect the price to create a spike once it opens on Monday.
The EURUSD is showing strong uptrend on the 15 minutes, hourly and 4 hourly chart which is a good alignment. Therefore I will look to ride the trend for this pair for the coming week until it shows a sign of reversal.
Below is the screenshot of the 15 minutes chart
Below is the screenshot of the hourly chart
Below is the screenshot of the 4 hourly chart
For this pair, I will look to BUY for this week but you have to expect some retracement at times even when the trend is so strong.
2) GBPUSD Analysis
For the GBPUSD, we have entered a BUY trade on Friday as well and it is now ard 8 to 9 pips in our favor.
For this pair, it also show sign of strong up trend on the 15 minutes, hourly and 4 hourly chart and it has also broke above the 400 EMA on the daily chart.
One thing we have to take note is that the price has hit the 100 EMA on the Weekly chart and therefore we have to be a but more careful for this trade.
On the daily chart, you can also see that there is a strong level of resistance at 1.28103 which I will be careful if the price hits that level.
That is the reason why I split 1 trade into 2 half size trade so that we can exit one of it at the strong level to secure some profits and then let the other half continue the run.
3) GBPJPY Analysis
For the GBPJPY, there are opportunity to sell and buy at the same time which makes it a good trading pair this week.
On the 4 Hourly chart, the price has hit the 100 EMA support which explained the upmove last Friday before the market closed.
On the hourly chart, you can see that the price is being supported by the 400 EMA last Friday which explains the upmove as well. But now it is resisted by the 100 EMA as well
For this pair, I will look to BUY on Monday when it triggered my Trend strategy but if it goes down and trigger my FHEMA strategy, I will SELL it as well.
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