EUR/USD
Trading strategy: Long
Open: 1.2220
Target: 1.2470
Stop-loss: 1.2300 (raised from 1.2140)
Recommended size: 2.50 mini lots per $10,000 in your account
Short analysis: RSIs are biased up while the daily cloud top and the converging 10, 21 and 55-day SMAs lend support. We remain long for 1.2470, just below March high.
GBP/USD
Trading strategy: Buy
Open: 1.4140
Stop-loss: 1.4010
Recommended size: 1.54 mini lots per $10,000 in your account
Short analysis: Today’s GBP/USD fall was stopped by the 14-day exponential moving average and a daily low was just above our bid order. Price action suggests, however, that a corrective move may be even deeper in the days ahead. We have lowered our bid to 1.4140.
USD/JPY
Trading strategy: Short
Open: 107.20
Target: 104.50
Stop-loss: 108.20
Recommended size: 1.61 mini lots per $10,000 in your account
Short analysis: The USD/JPY continues to be supported by the 55-day SMA. On the other hand, the pair did not manage to break above the resistance at 107.61, daily high on April 16. The USD/JPY signals are mixed.
USD/CAD
Trading strategy: Sell
Open: 1.2580
Target: 1.2320
Stop-loss: 1.2710
Recommended size: 1.45 mini lots per $10,000 in your account
Short analysis: The USD/CAD rallied on dovish BoC rate hold and we used that rally to open a short position. Long upper wick supports our view. The target is 1.2320.
