Forex Strategies

Trading strategies:

EUR/USD

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: The monthly inverted hammer and falling monthly RSI are encouraging for EUR/USD bears. But yesterday’s and today’s recovery suggests that a corrective move is likely in the near term. The pair is trying to rise above 7-day ema now.

GBP/USD

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: Daily cloud attraction has been a feature since mid-September. The GBP/USD found resistance at 1.3033, ahead of daily cloud top at 1.3055. Recent price extremes November 7's 1.3176 and 1.2827 November 12 low, seen key. Would look to play the range with bullish momentum steering the bias towards longs.

USD/JPY

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: Today’s USD sell-off made us cancel our bid at 112.95. We see increasing downside risk in the near term.

USD/CAD

Trading strategy: Short

Open: 1.3230

Target: 1.3120

Stop-loss: 1.3285

Recommended size: 3.61 mini lots per $10,000 in your account

Short analysis: The Canadian dollar edged higher against broadly weaker USD on Wednesday, extending its recovery from a nearly four-month low the day before as oil prices rebounded. The price of oil, one of Canada's major exports, recouped some of the previous session's slide on the growing prospect of OPEC and allied producers cutting output at a meeting next month.

AUD/USD

Trading strategy: Long

Open: 0.7220

Target: 0.7420

Stop-loss: 0.7120

Recommended size: 1.50 mini lots per $10,000 in your account

Short analysis: Our long remains but it's back in black. We see encouraging signs though. The pair failed to break support near 0.7160. The ensuing bounce sees the pair back above the 55-DMA, daily cloud base and the November 12 high get pierced. Rising monthly RSI is also encouraging.

EUR/GBP

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: Monthly RSI is biased down and the 61.8% Fibo of 0.8305-0.9307 has been pierced. Those suggests downside risks. Long lower wicks on recent daily candles suggests that bulls are putting up a fight. Signals are mixed so we will stand aside for now.

The dollar reached a 16-month high against a basket of currencies as investors built bets on a Federal Reserve interest rate increase next month, and political risks in Europe which put pressure on the euro and the pound. Fears about a no-deal Brexit and a growing rift in Europe over Italy's budget have also boosted the dollar. The greenback has rebounded from losses tied to the view that U.S. elections last Tuesday, which produced a split control of Congress, would reduce chances of more fiscal stimulus measures. The dollar's bounce has been underpinned by the Fed's signal that it would hike key lending rates further as U.S. economic expansion remains on track.

Trading strategies:

Trading strategies:

EUR/USD

Trading strategy: Long

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