Weekly trade results and strategy: EUR/USD, USD/JPY, AUD/CHF, GBP/CAD
|EUR/USD
Short 1.1126 and 1.1158 to target 1.1024
Highs 1.1105, Lows 1.1010,
Trade +81 pips from 1.1105 to 1.1024.
2nd leg Short 1.0997 to target 1.0866.
Why exit is due to gray area to MA’s as the area is untouchable from 1.1024 to 1.0997. Trade risk is either EUR/USD bounces to short at higher levels or 1.0997 breaks to allow shorts to target 1.0866.
Actual break today 1.0992. Averages moved from 1.0997 to 1.0992.
USD/JPY
Long 107.32 to target 108.36.
Lows 107.33 Perfect, Highs 108.27
Trade +94 pips although 108.36 traded perfectly.
2nd Leg. Long above 108.78 to target 109.82
AUD/CHF
Long 0.5845 and 0.5803 to target 0.6103
Lows 0.5846 Perfect, Highs 0.5966
Trade Runs +120 Pips,
Long way to target
See problem Pair GBPCAD.
Here’s the daily trade strategy for EUR/USD and USD/JPY.
EUR/USD must break 1.0992 and USD/JPY 108.86. The daily trade strategy by interest rates answers how far will prices travel if and when breaks at 1.0992 and 108.86. Daily trade strategy is the benchmark to weekly trade target for EUR/USD 1.0866 and USD/JPY 108.86.
For EUR/USD long at bottom levels and long at upper levels for USD/JPY.
EUR/USD
Most Important 1.0971 and 1.0989 Vs 1.1014, 1.1021, 1.1028, 1.1035, 1.1049, 1.1056 and 1.1063
Bottom. 1.0951 achieves by 1.0979 and 1.0964
Upper target 1.1063
Continuation Fail 1.1035
Break Point 1.0992
EUR/USD informs 1.0866 won’t trade today. 2 choices: either hold to target 1.0866 or trade a daily trade for extra weekly pips
USD/JPY
Most Important 107.96 and 108.14 Vs 108.38, 108.45, 108.52, 108.59, 108.73, 108.79 and 108.87
Bottom. 107.77 achieves by 108.04 and 107.91
Upper target 108.87
Continuation Fail 108.59
Break Point 108.86
For USD/JPY 108.86 won’t break today. Strategy is short tops and long bottoms for extra weekly pips.
Trade end yesterday despite +175 pips forced the trade to wait upon breaks at 108.78 or 1.0992. Or wait upon bounces higher.for EUR/USD to short and lower for USD/JPY to long.
EURUSD Break at 1.0992 offers 1.0951 at best then EUR/USD bounces.
Both GBP/CAD and AUDCHF remains. GBP/CAD was forced to add 1 lot. The trade either profits or break even.
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