EUR/USD
Trading strategy: Buy
Open: 1.1645
Target: –
Stop-loss: 1.1570 (raised from 1.1450)
Recommended size: 2.67 mini lots per $10,000 in your account
Short analysis: Profit taken at 1.1750, earned: 200 pips, $400 per $10,000 in your account. EUR/USD bulls broke above the August 1.1734 peak, which opens the way to the 1.1780 Fibonacci level. 1.1780 Fibo is a 38.2% retrace of the 1.2556 to 1.1301 fall. We have placed a new bid at 1.1645 level in anticipation for a bullish resumption.
GBP/USD
Trading strategy: Buy
Open: 1.3130
Target: –
Stop-loss: 1.3020
Recommended size: 1.36 mini lots per $10,000 in your account
Short analysis: So far we have seen no negative fall-out from Wednesday’s major candlestick doji. A bid returns and bull run resumes. We still see scope to 1.3363 and continue to favor a buy on dips strategy.
USD/JPY
Trading strategy: Await signal
Open: –
Target: –
Stop-loss: –
Recommended size: –
Short analysis: USD/JPY has failed to close above the key 112.38 Fibonacci level twice, a 76.4% retrace of the 113.18 to 109.78 (July to August) fall, on Tuesday and Wednesday. This failure is weighing heavily on USD/JPY.
USD/CAD
Trading strategy: Short
Open: 1.3065
Target: 1.2795
Stop-loss: 1.2970 (lowered from 1.3200)
Recommended size: 1.44 mini lots per $10,000 in your account
Short analysis: The pair broke below the 76.4% Fibo of 1.2887-1.3225 rise (1.2967). Our short is in good shape now. We have locked in profit at 1.2970.
AUD/USD
Trading strategy: Buy
Open: 0.7235
Target: –
Stop-loss: 0.7135
Recommended size: 1.50 mini lots per $10,000 in your account
Short analysis: Pair climbs above the 21-day moving average and clears 0.7230/40 resistance. RSIs are biased up and a monthly bull hammer candle is forming. Bull sentiment is elevated. A bid is placed at 0.7235.
EUR/GBP
Trading strategy: Await signal
Open: –
Target: –
Stop-loss: –
Recommended size: –
