EUR/USD
Trading strategy: Await signal
Open: –
Target: –
Stop-loss: –
Recommended size: –
Short analysis: Profit taken on EUR/USD long at 1.1520, earned: 170 pips, $320 per $10,000 in your account. The August 15 hammer candle warned of a direction change. We used that opportunity to open a long position. Subsequent climb in price has removed the 30-day MA lower Bolli and 10-day MA lines. We think that the upward move may be continued with the next target at 1.1628, August 8 high. We will consider buying on dips.
GBP/USD
Trading strategy: Buy
Open: 1.2835
Target: –
Stop-loss: 1.2700
Recommended size: 1.48 mini lots per $10,000 in your account
Short analysis: The GBP/USD cleared above the 10-day MA. We think a run up to the 21-day MA 1.2933, is possible now. Bid placed at 1.2835.
USD/JPY
Trading strategy: Short
Open: 111.40
Target: 109.40
Stop-loss: 110.70 (lowered from 112.40)
Recommended size: 1.66 mini lots per $10,000 in your account
Short analysis: Weekly charts still heavily bearish so daily upticks could provide better sell levels. We have locked in small profit at 110.70.
USD/CAD
Trading strategy: Short
Open: 1.3065
Target: 1.2845
Stop-loss: 1.3175
Recommended size: 1.78 mini lots per $10,000 in your account
Short analysis: We opened USD/CAD short at 1.3065, in line with our trading strategy. USD/CAD consolidating below daily cloud base (1.3058) finds support 1.3015 just above August 9’s 1.3001 low. A close below the daily cloud adds to bearish momentum. Below August 9 low puts 200-day MA support by 1.2836 in sharper focus.
AUD/USD
Trading strategy: Await signal
Open: –
Target: –
Stop-loss: –
Recommended size: –
Short analysis: Bounce from Aug 15 low extends. The pair is now above 14-day exponential moving average, which is another bullish signal. But the recent upward move does not change long-term bearish trend. We stand aside.
