Trading plan for EURUSD, GBPUSD, USDJPY for 05/03/2020

EURUSD*

The technical cross-section**:

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

Selling in the area of 1,1180 with a stop above 1,1230 and a profit in area 1,1080.
Selling in the area of 1,1210 with a stop above 1,1250 and a profit in area 1,1080.
Buying in the area of 1,1090 with a stop below 1,1050 and a profit in the area of 1,1150.
Buying in the area of 1,1010 with a stop below 1,0970 and a profit in the area of 1,1090.

GBPUSD

The technical cross-section:

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

Buying in the area of 1,2760 with a stop below 1,2720 and a profit in the area of 1,2840.
Buying in the area of 1,2640 with a stop below 1,2600 and a profit in the area of 1,2750.
Selling in the area of 1,2880 with a stop above 1,2930 and a profit in area 1,2780.
Selling in the area of 1,2980 with a stop above 1,3020 and a profit in area 1,2880.


USDJPY

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 107,90 with a stop above 108,20 and a profit in area 107,00.
Selling in the area of 108,50 with a stop above 108,80 and a profit in area 107,90.
Buying in the area of 106,90 with a stop below 106,50 and a profit in the area of 108,60.


* 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!