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Currencies Trading Ideas: US Dollar stays strong even after alleged Japan Interventions

By Mohammad Shanti
24 Oct,2022
Currencies Trading Ideas: US Dollar stays strong even after alleged Japan Interventions

EURUSD pulls back towards 0.9800

Trading Idea: Ranging - Bearish bias

Entry point Stop loss Take Profit 1 Take Profit 2
0.9870 0.9920 0.9810 0.9739

Comment: Trading within a horizontal channel suggests range trading. However RSI and MACD suggests reversal to the downside

Order Type: Sell Limit

Risk-reward ratio (SL to TP 1):  1:1.2

Risk-reward ratio (SL to TP2):   1:2.618
 

GBPUSD edge higher slowely

Trading Idea: Trending higher

Entry point Stop loss Take Profit 1 Take Profit 2
1.1400 1.1320 1.1480 1.1609

Comment: Trading above moving averages and the pivot point favors the rise. However breaching the resistance line is required to confirm the trend

Order Type: Buy STOP

Risk-reward ratio (SL to TP 1):  1:1

Risk-reward ratio (SL to TP2):   1:2.618

USDJPY steadies near 149.00 after alleged Japan intervention

Trading Idea: Ranging

Entry point Stop loss Take Profit 1 Take Profit 2
149.60 148.60 150.60 152.20

Comment: Trading near the pivot point and between moving averages favors the rise. RSI and MACD are heading north which indicates bullish control.

Order Type: Buy STOP

Risk-reward ratio (SL to TP 1):  1:1

Risk-reward ratio (SL to TP2):   1:2.618


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