Trading plan for EURUSD, GBPUSD, USDJPY for 08/03/2021

8 Mac 2021

EURUSD*

Technical analysis**:

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

Sell near 1,1960 with a stop loss above 1,1990 and a take profit near 1,1900.
Sell near 1,2060 with a stop loss above 1,2100 and a take profit near 1,1980.

GBPUSD

Technical analysis**:

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

Buy near 1,3750 with a stop loss above 1,3700 and a take profit near 1,3850.
Sell near 1,3850 with a stop loss above 1,3900 and a take profit near 1,3750.
Sell near 1,3950 with a stop loss above 1,4000 and a take profit near 1,3850.

USDJPY

Technical analysis**:

Trend: 1
Trend power: 4
Overbought/Oversold: overbuying
Preferable trade direction: buy

Buy near 107,50 with a stop loss above 107,00 and a take profit near 108,50.


* 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!