EURUSD, GBPUSD AND USDCAD TRADING PLAN (25-04-2015)

1-EURUSD trading plan.

Buy signals above 1,775 – 1,75 towards 1,0935.

The pair is struggling on the monthly time frame with a strong support  around 1,065 and it seems it cannot break it down.

EU MONTHLY CHART.

EU_M

On the daily time frame, the pair broke up, retested and confirmed a break up of SMA40 around 1,08. The next obvious zone of resistance is around 1,0935.

EU DAILY CHART.

EU_D

On the H4 time frame, the pair broke up two resistances which now stand supports : 1,075, where SMA200 and SMA100 meet, and 1,0775, where there is a 50 fib level. As long as we are above those levels, we should rather look for buying signals.

EU H4 CHART.

EU_H4

2-GU trading  plan

Watch price action around 1,518 (daily SMA100). Expect a bearish consolidation, but look to buy above  1,51 to go back to 1,518 and then 1,55. Keep a long term bullish bias as long as we stay above 1,5.

GBPUSD has been very bullish last week but it stand now against a multi timeframe resistance at 1,518, where the pair  meets a weekly fib line, the weekly SMA20 and the daily SMA100. We expect it to pull back before rising again. Our bullish bias will last down to 1,5, where is located a channel broken resistance.

GU WEEKLY CHART.

GU_W

Should the pair open above 1,581 on Monday, allow for a retest of that level before entering long.

GU DAILY CHART.

GU_D

3-USDCAD trading plan.

Look for short at 1,225 and 1,235.

The USDCAD has been breaking down a channel support at 1,235, but it has been stopped by the SMA100 acting as a support. The pair eventually managed to break down that SMA100 too, but then posted a hammer on Friday, making a retest of the moving average, and may be of the channel support more than possible.

USDCAD DAILY CHART.

USDCAD_D

1,225 is also the level of the monthly SMA200, making a retest of that level even more likely.

USDCAD MONTHLY CHART.

USDCAD_M

 

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