Trading plan for EURUSD, GBPUSD, USDJPY for 23/08/2021

23 thg 8, 2021

EURUSD*

Technical analysis**:

Trend: -1
Trend power: -3
Overbought/Oversold: oversold
Preferable trade direction: sell

Sell near 1,1720 with a stop loss above 1,1750 and a take profit near 1,1660.
Sell near 1,1770 with a stop loss above 1,1800 and a take profit near 1,1710.
Buy near 1,1620 with a stop loss below 1,1590 and a take profit near 1,1700.



GBPUSD

Technical analysis**:

Trend: -1
Trend power: -4
Overbought/Oversold: oversold
Preferable trade direction: sell

Sell near 1,3680 with a stop loss above 1,3740 and a take profit near 1,3590
Sell near 1,3780 with a stop loss above 1,3830 and a take profit near 1,3680

USDJPY

Technical analysis**:

Trend: 0
Trend power: 1
Overbought/Oversold: absent
Preferable trade direction: buy

Buy near 109,30 with a stop loss below 109,00 and a take profit near 109,80.
Sell near 110,60 with a stop loss above 111,00 and a take profit near 109,80.



* all transactions are intraday, that is, it must be closed at the end of the day. The error in the parameters of transactions is +/- 5 points; in the case of fundamental force majeure, the recommendations may be less relevant;

** the trend parameter – accepts values “+1” - an uptrend, “-1” - a downtrend, “0” - no trend. Determined in terms of the author's analysis of a set of signals from technical indicators from different time frames;

the trend strength parameter – accepts values from “-4” to “+4” and shows how strong this trend is. It is determined based on the author's analysis of a set of signals from technical indicators from different time frames;

overbought/oversold is defined in terms of the analysis of the RSI (8) indicator on a daily time frame. The boundaries of the zones are accordingly 70 and 30;
Preferable trade direction depends first of all on trend and its strength but is also taken into account our value judgments of the situation on the market.


Wish you successful ideas and trades!