Trading plan for EURUSD, GBPUSD, USDJPY for 14/09/2020

EURUSD*

Technical analysis**:

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

Sell near 1,1890 with a stop loss above 1,1930 and a take profit near 1,1820.
Sell near 1,1960 with a stop loss above 1,1990 and a take profit near 1,1890.
Buy near 1,1770 with a stop loss below 1,1740 and a take profit near 1,1880.



GBPUSD

Technical analysis**:

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

Sell near 1,2860 with a stop loss above 1,2900 and a take profit near 1,2780
Sell near 1,2940 with a stop loss above 1,2990 and a take profit near 1,2820
Sell near 1,3050 with a stop loss above 1,3100 and a take profit near 1,2950.


USDJPY

Technical analysis**:

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

Sell near 106,20 with a stop loss above 106,60 and a take profit near 105,40.
Sell near 107,00 with a stop loss above 107,70 and a take profit near 106,10.
Buy near 105,40 with a stop loss below 105,00 and a take profit near 106,10.


* 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!