You are welcome to another edition of our weekly trade plan. Last week saw us in profits as once again market moved according to our trade plan on the EURUSD and the GBPUSD.
This week I will be giving a follow up on the three currency pairs analysed last week.
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The trade plan for last week still remains valid as price still trades below the 0.7318 region. The outlook for this pair is still bullish as long as price trades above 0.7050 region.
TRADE ADVICE: Look to buy at short exhaustion. Look for price action buy signals at the support regions shown above..
The Trade plan for last week played out perfectly for this pair with 100 pips bagged as price rebounded off the resistance level as shown on the blue arrow from last week. We are still firmly bearish for this pair with another bearish run to be exposed when the 1.266 region is broken.
TRADE ADVICE- Look to sell on rallies upwards towards the support region.
Once again the Trade plan for last week played out perfectly for the EURUSD as price rebounded the upper level of the range shown. We are bearish for this pair with near term aim at 1.2111 region. A break of that level will expose the 1.11 region.
TRADE ADVICE- Look to sell on any strength gained towards the top of the range.
Have a great week ahead!!
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