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Currencies Trading Ideas: Pound edge higher, while JPY near 32 years old lows

By Mohammad Shanti
17 Oct,2022
Currencies Trading Ideas: Pound edge higher, while JPY near 32 years old lows

EURUSD trades near mid 0.9700s amid hawkish fed wagers

Trading Idea: Ranging - Bearish bias

Entry point Stop loss Take Profit 1 Take Profit 2
0.9740 0.9840 0.9640 0.9478

Comment: Trading within a bearish technical pattern favors the fall. However, RSI and MACD are flat which suggests range trading

Order Type: Sell STOP

Risk-reward ratio (SL to TP 1):  1:1

Risk-reward ratio (SL to TP2):   1:2.618
 

GBPUSD rallies towards 1.1300 amid hopes for a decent fiscal framework.

Trading Idea: Ranging - Bearish bias

Entry point Stop loss Take Profit 1 Take Profit 2
1.1300 1.1370 1.1200 1.1167

Comment: Trading within a bearish technical pattern favors the fall. However, RSI and MACD are flat which suggests range trading

Order Type: Sell Limit

Risk-reward ratio (SL to TP 1):  1:1.4

Risk-reward ratio (SL to TP2):   1:2.618

USDJPY extends gains towards 149.00, Japan governement intervenation awaited

Trading Idea: Trending up

Entry point Stop loss Take Profit 1 Take Profit 2
148.50 147.50 149.50 151.11

Comment: Trading above moving averages and the pivot point favors the rise. RSI and MACD favors the bulls

Order Type: Buy Limit

Risk-reward ratio (SL to TP 1):  1:1

Risk-reward ratio (SL to TP2):   1:2.618


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