This is how trades are today:

EUR/USD

Trading strategy: Long

Open: 1.1530

Target: 1.1750

Stop-loss: 1.1430

Recommended size: 1.50 mini lots per $10,000 in your account

Short analysis: We can see solid support below the daily cloud base, 1.1546. EUR/USD bears need a close below this base to change the market sentiment. We remain long at 1.1530.

GBP/USD

Trading strategy: Long

Open: 1.3110

Target: 1.3240

Stop-loss: 1.3045

Recommended size: 2.31 mini lots per $10,000 in your account

Short analysis: Bearish key day Friday sets up weak Monday start. We used today’s dip to open a long position. Long lower wick on today’s candle suggests a recovery is due.

USD/JPY

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: USD/JPY saw the biggest one-week fall since February to register a weekly close well below the 200-week MA, now at 113.14, to set up a bearish bias going forwards. The scope grows for further losses down to 110.73 Fibonacci level, a 38.2 retrace of the 104.56 to 114.55 2018 rise and the 30-week MA, currently at 110.45.

USD/CAD

Trading strategy: Short

Open: 1.2950

Target: 1.2700

Stop-loss: 1.3075

Recommended size: 1.54 mini lots per $10,000 in your account

Short analysis: The CAD recovered slightly against the USD on Thursday and Friday, but the loonie lost ground for the week as investors worried about threats to the global growth outlook. A break below 14-day exponential moving average (currently at 1.2978) may add fuel to our short trade.  

AUD/USD

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: A new short-term high is set, daily RSI is biased and the pair clears the 10-day MA. Monthly RSI remains biased down and the pair struggles to break above the 76.4% Fibo of the 2016-18 rally. The 2018 downtrend remains formidable. We will stand aside until clearer signs appear.

EUR/GBP

Trading strategy: Long

Open: 0.8760

Target: 0.8860

Stop-loss: 0.8760 (raised from 0.8710)

Recommended size: 3.03 mini lots per $10,000 in your account

Short analysis: The EUR/GBP broke above 7-day exponential moving average and is trying to close the day above 23.6% Fibo of August-October fall. Our long is in good shape, but long upper wick on today’s candle is worrying. We have raised stop-loss to the entry point.