Short term trading opportunities of EUR/USD, USD/JPY, CAD/JPY, DXY and GBP/USD

Position update
1. Canceled USDCAD order during NY session when it muted to oil strength.


2. Took profit at 109.91 for USDJPY buy trade.


3. Took Profit at 81.91 for CADJPY buy trade.


4. Move the stop level to 1.1209 for EURUSD sell trade.
5. Move the stop level to 97.45 for DXY buy trade.

6. Today we have two new trade idea for USDJPY and CADJPY:
①USDJPY: long at 109.74 stop 108.95 for 110.58 (Risk 0.3%, already go long in Asia Market)
②CADJPY: long at 81.48 stop 80.90 for 82.33 (Risk 0.3%, already go long in Asia Market)

new position

For now, both Forex and Equity market are at a critical "Make or Break" point.
Enough patience is needed.



Need to close above 97.70 to confirm the break higher.
If so, we may see EURUSD spike to 1.1059 or even 1.0890.
Failed here, some deeper retracement is likely.
RSI is already in overbought levels on 240 min chart.



The price is already closed above recent downtrend channel.
If weekly close below Ichimoku Kijun-Sen, may increase the bearish sentiment.
We have a tiny long position from 109.74, will consider reverse to short if price break lower.



The price is just sitting on the short term control point.
How the trend develops from here is very important.



The price closed above short term downtrend channel.
I suspect still one more sell-off ahead, will look for top signs around 2900/20 level.

sp500 1

sp500 2


On big picture, we see a potential weekly 5 wave up pattern.
Ideally it is a medium term bullish sign.
If the price could hold at current level, a potential inverse head-should bottom may be formed.
In this case, it's too risky to directly pick the bottom.
We'll try to find some base sign here.

gbpusd 1

gbpusd 2



Views are my own, not trading recommendations.

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