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Trading plan for EURUSD, GBPUSD, USDJPY for 07/05/2020

EURUSD*

The technical cross-section**:

Trend: 0
A strength of trend: -3
Overbought/oversold: none
The priority area of transactions: selling

Selling in the area of 1,0900 with a stop above 1,0930 and a profit in area 1,0800.
Selling in the area of 1,0970 with a stop above 1,1020 and a profit in area 1,0850.
Buying in the area of 1,0790 with a stop below 1,0750 and a profit in the area of 1,0900.

GBPUSD

The technical cross-section:

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

Selling in the area of 1,2480 with a stop above 1,2540 and a profit in area 1,2370.
Selling in the area of 1,2600 with a stop above 1,2670 and a profit in area 1,2460.
Buying in the area of 1,2290 with a stop below 1,2250 and a profit in the area of 1,2420.
Buying in the area of 1,2200 with a stop below 1,2150 and a profit in the area of 1,2320.

USDJPY

The technical cross-section:

Trend: -1
A strength of trend: -4
Overbought/oversold: oversold
The priority area of transactions: selling

Selling in the area of 107,20 with a stop above 107,60 and a profit in area 106,30.
Selling in the area of 108,10 with a stop above 108,60 and a profit in area 107,10.
Buying in the area of 106,10 with a stop below 105,70 and a profit in the area of 107,20.
Buying in the area of 105,20 with a stop below 104,70 and a profit in the area of 106,30.

* 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!