Trading plan for EURUSD, GBPUSD, USDJPY for 18/01/2021

EURUSD*

Technical analysis**:

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

Sell near 1,2140 with a stop loss above 1,2180 and a take profit near 1,2060.
Sell near 1,2210 with a stop loss above 1,2250 and a take profit near 1,2140.
Buy near 1,2060 with a stop loss below 1,2010 and a take profit near 1,2140.
Buy near 1,1950 with a stop loss below 1,1900 and a take profit near 1,2050.



GBPUSD

Technical analysis**:

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

Sell near 1,3620 with a stop loss above 1.3660 and a take profit near 1,3450
Sell near 1,3690 with a stop loss above 1,3750 and a take profit near 1,3550
Buy near 1,3450 with a stop loss below 1,3400 and a take profit near 1,3550
Buy near 1,3360 with a stop loss below 1,3310 and a take profit near 1,3450


USDJPY

Technical analysis**:

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

Sell near 104,20 with a stop loss above 104,60 and a take profit near 103,60.
Sell near 104,80 with a stop loss above 105,30 and a take profit near 104,10.
Buy near 103,40 with a stop loss below 103,00 and a take profit near 104,20.


* 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!