Trading plan for EURUSD, GBPUSD, USDJPY for 23/07/2020

23. Juli 2020

EURUSD*

The technical cross-section**:

Trend: 1
A strength of trend: 4
Overbought/oversold: overbuying
The priority area of transactions: buying

Buying in the area of 1,1460 with a stop below 1,1400 and a profit in the area of 1,1540.


GBPUSD

The technical cross-section:

Trend: 1
A strength of trend: 4
Overbought/oversold: overbuying
The priority area of transactions: buying

Buying in the area of 1,2650 with a stop above 1,2600 and a profit in area 1,2750.
Buying in the area of 1,2550 with a stop above 1,2510 and a profit in area 1,2660.
Selling in the area of 1,2740 with a stop above 1,2790 and a profit in area 1,2660.


USDJPY

The technical cross-section:

Trend: 0
A strength of trend: -1
Overbought/oversold: none
The priority area of transactions: selling

Selling in the area of 107,80 with a stop above 108,30 and a profit in area 107,00.
Selling in the area of 108,80 with a stop above 109,30 and a profit in area 107,80.
Buying in the area of 106,90 with a stop below 106,60 and a profit in the area of 107,80.
Buying in the area of 106,20 with a stop below 105,80 and a profit in the area of 107,00.


* 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 analy
sis of the RSI (8) indicator on a daily time frame. The boundaries of the zones are accordingly 70 and 30;

the priority area of transactions 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 trading solutions and transactions!