EUR/USD In Range-Bound Trading Ahead Of ECB, Fed Meetings

This is how my trades are now:

EUR/USD

Trading strategy: Long

Open: 1.1785

Target: 1.2015

Stop-loss: 1.1680

Recommended size: 1.90 mini lots per $10,000 in your account

Short analysis: The EUR/USD bulls remain in control, the scope grows for initial gains to the 1.1910 key Fibo level, 38.2% retrace of the 1.2555 to 1.1511 (2018) fall. Friday's candlestick line had a long tail, reinforcing the rejection of the downside. 

GBP/USD

Trading strategy: Long

Open: 1.3410

Target: 1.3675

Stop-loss: 1.3280

Recommended size: 1.15 mini lots per $10,000 in your account

Short analysis: GBP/USD mired in range between 10-day MA (1.3350) and 30-DMA (1.3441). Slew of UK data this week and UK parliament Brexit votes may skew pair to test 10-day MA. On the other hand, 14-day exponential moving average is getting closer to the 7-day ema, a positive cross here would be an important bullish signal.

USD/JPY

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: USD/JPY bulls rebound to focus once again on the 200-day MA, currently at 110.19, a break and daily close above which will unmask 110.62, 76.4% retrace of the 111.39 to 108.12 (May) fall. We think that current signals are not strong enough to open a new trade here.

USD/CAD

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: The USD/CAD is testing the psychological barrier of 1.3000 as NAFTA trade tensions linger. In our opinion the volatility may be elevated and the direction is hard to predict. We stand aside.                                                                                                  

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