EURUSD, USDJPY, and USDCAD trading plan (25-05-2015).

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1-EURUSD trading plan.

Depending upon the level  the pair will open at, sell under 1,1 towards 1,088, or buy above 1,1 towards 1,11 and 1,125, where you may look for selling signal again.

On the daily chart, EURUSD shows a sharp bearish consolidation,  breaking two supports that now stand resistances (1,115 and 1,126). The pair ended the week slightly above a strong support level (1,1).

EURUSD DAILY CHART.

eurusd_d

On the H4 chart, we see a 50 fib support level and the H4 200 SMA being around that 1,1 support level. Should it break down, the next fib support is the 68,1 around 1,088, that will be our first target on the way south. The support may also held, sending the pair back up towards the 1,115 and 1,126 levels.

EURUSD H4 CHART.

EURUSD_H4

2-USDJPY trading plan.

Buy signals above 120,5. Mind the high around 121,75. It if breaks, aim for 124.

On the monthly chart, we see the pair confirming a bullish break out of a fib 0,886 level at 118,5. The next level, that is the last monthly high, is around 124.

USDJPY MONTHLY CHART

USD_JPY_M

On the daily, we see the pair has been ranging for two months between that 0,886 fib support around 118,5 and a resistance at 120,5. That resistance was broken on Wednesday, then retested as a support and it held. As long as we trade above it, we will look for buying signals. However, a breaking down of that level will probably trigger a retest of the 0,886 fib support level at 118,5. On the bullish side, a breaking up of the last high around 120,75 opens the way to the 124 level (last monthly high) and above.

USDJPY DAILY CHART.

USDJPY_D

3-USDCAD trading plan.

The price action on that pair looks really bullish, but we are now entering a strong resistance territory. We will look to sell signals up to 123,8 to go back to 122 and eventually lower.

On the monthly chart we see the USDCAD has broken down the 200 SMA and is retesting it as a resistance around 1,226.

USDCAD MONTHLY CHART.

USDCAD_M

On the daily the pair is clearly in an uptrend/bullish correction, but it is also reaching a strong resistance zone where we have altogether a 50 fib level, the 100 and 55 SMAs, and an old range broken support now resistance. We will look for selling signals around those levels, to go back to a strong support line located around 121,75 first. Note the moderate upwick on the last candle around 1,227, that is the monthly 200 SMA.

USDCAD DAILY CHART.

USDCAD_D

 

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