Today’s Market Calls of EUR/USD, GBP/USD, USD/JPY, India Cross Currency Forecast 3

Somnath Das Independent Analyst

Urgent Pair GBP/USD – 3Hour Chart:

1. Uptrend GBP/USD Open- 1.2876, Target - 1.3003, Support - 1.2821

Ultra Specific Ceteris Paribus Strategy:

“Without strategy and execution, a great idea will remain just a good idea.”- Dominic

By keeping in mind the projected target price constant trade frequently 3- 4 times a day. Maintain proper margin for carry forward. Trader should maintain back up to 600 points (approx) if opposite scenario happen. Hold the open positions overnight in case of verified short term trend for maximum profit.

Always maintain a portfolio of 3 out of 3 pairs and distribute total trading volume among them.

Unique Trading Process:

Trading process is based on ZIGZAG Analysis and combining with ADX. First, predicting buy/sell any type (limit/stop) intra day. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter 1st position (buy/sell) at any level between the average of daily entry and sl price.

Third, try to book initial quick profit to verify predictions validity. This process can be repeated twice or thrice in sidewise market. Also distribution of positions by averaging method will be helpful. This way we can maximize intra day profit, provided that the daily market direction is verified and holds true.

Fourth, on the fundamental side we will check the price action more during the news in economic calendar on CPI (Consumer Price Index) data of EUROPE, UK, USA, JAPAN and INDIA. Trade deficit data is important to follow for more volatility.

Useful Market Direction | Trading Levels:

The price is always changing, will you lead or follow?

2. Uptrend EUR/USD Open- 1.1295, Target - 1.1404, Support - 1.1221

3. Downtrend USD/JPY Open- 110.40, Target - 107.38, Resistance- 111.35

“Every correct Decision you make takes you one step closer to being Wealthy and Successful”

Author

Somnath Das

Independent Analyst

Without strategy and execution, a great idea will remain just a good idea.

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold clings to gains as US-Iran conflict continues to underpin safe-haven assets

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar could keep the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.