Trading plan for EURUSD, GBPUSD, USDJPY for 30/10/2020

30 oct 2020

EURUSD*

Technical analysis**:

Trend: 0
Trend power: -3
Overbought/Oversold: absent
Preferable trade direction: sell

Sell near 1,1700 with a stop loss above 1,1740 and a take profit near 1,1620.
Sell near 1,1790 with a stop loss above 1,1840 and a take profit near 1,1700.
Buy near 1,1620 with a stop loss below 1,1580 and a take profit near 1,1700.



GBPUSD

Technical analysis**:

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

Sell near 1,2990 with a stop loss above 1,3050 and a take profit near 1,2890
Sell near 1,3140 with a stop loss above 1,3190 and a take profit near 1,3000
Buy near 1,2890 with a stop loss below 1,2850 and a take profit near 1,2990.
Buy near 1,2790 with a stop loss below 1,2750 and a take profit near 1,2890.


USDJPY

Technical analysis**:

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

Sell near 104,60 with a stop loss above 104,80 and a take profit near 104,10.
Sell near 105,10 with a stop loss above 105,60 and a take profit near 104,20.
Buy near 104,20 with a stop loss below 103,80 and a take profit near 105,10.


* 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!