Trading plan for EURUSD, GBPUSD, USDJPY for 17/02/2020

EURUSD*

The technical cross-section**:

Trend: -1
A strength of trend: -3
Overbought/oversold: oversold
The priority area of transactions: selling

Selling in the area of 1,0890 with a stop above 1,0920 and a profit in area 1,0830.
Selling in the area of 1,0950 with a stop above 1,0980 and a profit in area 1,0900.


GBPUSD

The technical cross-section:

Trend: 0
A strength of trend: 1
Overbought/oversold: none
The priority area of transactions: buying

Buying in the area of 1,2980 with a stop below 1,2940 and a profit in the area of 1,2840.
Buying in the area of 1,2830 with a stop below 1,2790 and a profit in the area of 1,2980.
Selling in the area of 1,3060 with a stop above 1,3110 and a profit in area 1,2980.
Selling in the area of 1,3150 with a stop above 1,3190 and a profit in area 1,3060.


USDJPY

The technical cross-section:

Trend: 0
A strength of trend: 0
Overbought/oversold: none
The priority area of transactions: selling

Selling in the area of 110,00 with a stop above 110,50 and a profit in area 109,30.
Selling in the area of 109,60 with a stop above 109,40 and a profit in area 110,00.
Buying in the area of 109,20 with a stop below 108,90 and a profit in the area of 109,90.
Buying in the area of 108,60 with a stop below 108,20 and a profit in the area of 109,20.


* 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;

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!