Trading plan for EURUSD, GBPUSD, USDJPY for 03/08/2020

EURUSD*

The technical cross-section**:

Trend: 1
A strength of trend: 2
Overbought/oversold: overbuying
The priority area of transactions: buying

Buying in the area of 1,1750 with a stop below 1,1710 and a profit in the area of 1,1850.
Buying in the area of 1,1640 with a stop below 1,1600 and a profit in the area of 1,1750.


GBPUSD

The technical cross-section:

Trend: 1
A strength of trend: 4
Overbought/oversold: overbuying
The priority area of transactions: buying

Buying in the area of 1,3020 with a stop above 1,2970 and a profit in area 1,3120.
Buying in the area of 1,3930 with a stop above 1,2870 and a profit in area 1,3020.


USDJPY

The technical cross-section:

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

Selling in the area of 106,10 with a stop above 106,50 and a profit in area 105,10.
Selling in the area of 107,00 with a stop above 107,60 and a profit in area 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 analy
sis 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!