FX Trading Ideas...

EURUSD

Long positions above 1.3825 with targets @ 1.3945 & 1.4025 in extension.

Alternative scenario: Below 1.3825 look for further downside with 1.38 & 1.375 as targets.

Comments: the pair is challenging an immediate support @ 1.3825.

GBPUSD

Long positions above 1.6365 with targets @ 1.6525 & 1.66 in extension.

Alternative scenario: Below 1.6365 look for further downside with 1.6275 & 1.621 as targets.

Comment: the pair is rebounding on its new support as the RSI is still well directed.
 
EURUSD

LONG positions above 1.381 with targets @ 1.3925 & 1.4.

Alternative scenario: The downside breakout of 1.38 will open the way to 1.375 & 1.371.

Comment: the RSI is bullish, the pair has rebounded on its support and remains well directed.

GBPUSD

LONG positions above 1.636 with 1.6475 & 1.6525 in sight.

Alternative scenario: The downside breakout of 1.635 will open the way to 1.6275 & 1.621.

Comment: the RSI is supported by a rising trend line, the pair is rebounding on its support and should reach its next resistance.
 
EURUSD

Long positions above 1.385 with targets @ 1.3925 & 1.4 in extension.

Alternative scenario: Below 1.385 look for further downside with 1.38 & 1.375 as targets.

Comments: the pair is on the upside and is challenging its resistance, the RSI is bullish.

GBPUSD

Long positions above 1.635 with targets @ 1.6475 & 1.6525 in extension.

Alternative scenario: Below 1.635 look for further downside with 1.6275 & 1.621 as targets.

Comment: the pair has struck against its resistance and is pulling back on its support as the RSI is supported by a rising trend line.
 
EUR/USD intraday: under pressure.

Pivot: 1.4000.

SHORT positions @ 1.399 with 1.39 & 1.385 as next targets.

Alternative scenario: The upside penetration of 1.4 will call for a rebound towards 1.405 & 1.4125.

Comment: the RSI is turning down, the pair should strike against its flag upper boundary ahead of a new down move.

GBP/USD intraday: the downside prevails.

Pivot: 1.6450.

SHORT positions @ 1.644 with targets @ 1.632 & 1.621.

Alternative scenario: The upside breakout of 1.645 will open the way to 1.651 & 1.662.

Comment: the pair is capped by a MT declining trend line, the RSI is badly directed.
 
EUR/USD intraday: key ST resistance at 1.4.

Pivot: 1.4

Short positions below 1.4 with targets @ 1.39 & 1.385 in extension.

Alternative scenario: Above 1.4 look for further upside with 1.405 & 1.41 as targets.

Comments: the pair has struck against its resistance and is challenging its intermediary support, the RSI is badly directed.

GBP/USD intraday: under pressure.

Pivot: 1.632

Short positions below 1.632 with targets @ 1.617 & 1.61 in extension.

Alternative scenario: Above 1.632 look for further upside with 1.6395 & 1.645 as targets.

Comment: the pair is on the downside and is challenging its strong support, the RSI is bearish and advocates for further decline.
 
Quote from aiyah_mark_lah:

Thanks for your update......how do you determine you take profit levels ?

regards
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Hi aiyah_mark_lah,

Is just the simple previous support and resistances (defined by previous high and lows) and sometimes some fibos S&R as well.

Regards,
TayOO
 
Quote from TayOO:

EUR/USD intraday: key ST resistance at 1.4.

Pivot: 1.4

Short positions below 1.4 with targets @ 1.39 & 1.385 in extension.

Alternative scenario: Above 1.4 look for further upside with 1.405 & 1.41 as targets.

Comments: the pair has struck against its resistance and is challenging its intermediary support, the RSI is badly directed.

GBP/USD intraday: under pressure.

Pivot: 1.632

Short positions below 1.632 with targets @ 1.617 & 1.61 in extension.

Alternative scenario: Above 1.632 look for further upside with 1.6395 & 1.645 as targets.

Comment: the pair is on the downside and is challenging its strong support, the RSI is bearish and advocates for further decline.
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I am staying on sideline on EURUSD and EURJPY for now.. swing market on those pair is very indecisive now.. waiting for a breakout
 
Quote from aiyah_mark_lah:

thanks for your reply, I like your simple no bs style of TA.
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thanks for your comment.

If you have a complex trading strategy probably will be harder to make some money from the markets and you will not be confused by the market, don't you agree? ;)
 
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