MyFXspot.com trading strategies:

EUR/USD

Trading strategy: Buy

Open: 1.1360

Target: -

Stop-loss: 1.1285

Recommended size: 2.00 mini lots per $10,000 in your account

Short analysis: Bull sentiment increases as a new short-term high is set. Rising RSIs and holds above the 10- and 21-day MAs bolster bull sentiment. We look to buy a dip toward 1.1360 and will look for a test of the 1.1500 area once we are long.

GBP/USD

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: Daily stochs are flatlining but momentum is confirming the rebound. Weekly technicals still highlights sterling's plight. In our opinion, GBP/USD may be volatile in the coming days. We stay sideways due to elevated risk.

Trading strategy: Sell

Open: 113.10

Target: -

Stop-loss: 113.90

Recommended size: 2.11 mini lots per $10,000 in your account

Short analysis: New November lows after breaking below the daily Kijun and 55-day MA set the stage for testing the rising 100-day MA and Cloud base at 112.05/16. Close below the 100-day MA would end 2018 streak of 6 violations with no closes below it. Offer is at Thursday's low by the 21-day moving average.

USD/CAD

Trading strategy: Short

Open: 1.3230

Target: 1.3120

Stop-loss: 1.3285

Recommended size: 3.61 mini lots per $10,000 in your account

Short analysis: The CAD weakened against the USD on Monday, as oil prices slipped and global risk appetite remained in check. The price of oil, one of Canada's major exports, fell by about 1% on Monday, snapping a three-day streak of gains, as investors weighed up the effectiveness of a potential cut in supply from OPEC and possibly other exporters in the face of rapidly rising global output. We remain short.

AUD/USD

Trading strategy: Long

Open: 0.7220

Target: 0.7420

Stop-loss: 0.7120

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

Short analysis: Our long remains in the black. Monthly RSI is biased up and the pair holds above the 23.6% Fibo of 0.8136-0.7021. Daily RSI turns from overbought territory though. Consolidation is likely. Once consolidation end the rally should resume. The target remains 0.7420.

EUR/GBP

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: The pair hits a new short-term high and holds above the 100-day MA. RSIs are biased up and a bull hammer forms on the monthly chart. Daily RSI is near overbought though and structural resistance near 0.8940/50 looms. While bull sentiment is growing we will stand aside until signals are a bit clearer.

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