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Forex Market Trend & Levels update 05/08/2020

Forex Majors today's review


EURUSD CMP : 1.1814
Composite Strength Meter Suggests : 79% Buy
Trend : Strong Buy
Entry Levels : 1.1770, 1.1730
Profit Booking Levels : 1.1850, 1.1900
Stop Loss: 4H candle closing below 1.1550


AUDUSD CMP : 0.7187
Composite Strength Meter Suggests : 86% Buy
Trend : Strong Buy
Entry Levels : 0.7140, 0.7090
Profit Booking Levels : 0.7225, 0.7260
Stop Loss: 4H candle closing below 0.6970


NZDUSD CMP : 0.6646
Composite Strength Meter Suggests : 81% Buy
Trend : Strong Buy
Entry Levels : 0.6608, 0.6580
Profit Booking Levels : 0.6660, 0.6680
Stop Loss: 4H candle closing below 0.6500


GBPUSD CMP : 1.3088
Composite Strength Meter Suggests : 75% Buy
Trend : Strong Buy
Entry Levels : 1.3050, 1.3000
Profit Booking Levels :  1.3120, 1.3180
Stop Loss: 1H closing below 1.2850


USDJPY CMP : 105.58
Composite Strength Meter Suggests : 75% Sell
Trend : Strong Sell
Entry Levels : 105.90, 106.30
Profit Booking Levels : 105.30, 105.15
Stop Loss: 4H candle closing above 106.50


USDCHF CMP : 0.9125
Composite Strength Meter Suggests : 84% Sell
Trend : Strong Sell
Entry Levels : 0.9160, 0.9200
Profit Booking Levels : 0.9100, 0.9075
Stop Loss: 4H candle closing above 0.9285


USDCAD CMP : 1.3288
Composite Strength Meter Suggests : 70% Sell
Trend : Strong Sell
Entry Levels : 1.3360, 1.3400
Profit Booking Levels : 1.3250, 1.3200
Stop Loss: 1H candle closing above 1.3460 


XAUUSD CMP : 2012
Composite Strength Meter Suggests : 81% Buy
Trend : Strong Buy 
Entry Levels : 1990, 1979
Profit Booking Levels : 2022, 2043
Stop Loss: 4H candle closing below 1865

Forex cross pairs


EURGBP CMP : 0.9025
Composite Strength Meter Suggests : 75% Buy
Trend : Strong Buy
Entry Levels : 0.9010, 0.8989
Profit Booking Levels : 0.9050, 0.9100
Stop Loss: 4H candle closing below 0.8965


EURJPY CMP : 124.72
Composite Strength Meter Suggests : 86% Buy
Trend : Strong Buy
Entry Levels : 124.60, 124.10
Profit Booking Levels : 125.10, 125.60
Stop Loss: 4H candle closing below 121.70


GBPJPY CMP : 138.18
Composite Strength Meter Suggests : 52% Buy
Trend : Neutral
Entry Levels : Avoid Trading
Profit Booking Levels : Avoid Trading
Stop Loss: NA


Reference:

Trend changing point candle low should be kept as stop loss for buy trend

Trend changing point candle high should be kept as stop loss for sell trend

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