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Forex Market Update 06/08/20

Forex Market Update 06/08/20




EURUSD CMP : 1.1874
Composite Strength Meter Suggests : 89% Buy
Trend : Strong Buy
Entry Levels : 1.1850, 1.1800
Profit Booking Levels : 1.1930, 1.1980
Stop Loss: 4H candle closing below 1.1550


AUDUSD CMP : 0.7197
Composite Strength Meter Suggests : 91% Buy
Trend : Strong Buy
Entry Levels : CMP, 0.7150
Profit Booking Levels : 0.7250, 0.7290
Stop Loss: 4H candle closing below 0.6970


NZDUSD CMP : 0.6638
Composite Strength Meter Suggests : 87% Buy
Trend : Strong Buy
Entry Levels : CMP, 0.6610
Profit Booking Levels : 0.6680, 0.6710
Stop Loss: 4H candle closing below 0.6500


GBPUSD CMP : 1.3131
Composite Strength Meter Suggests : 85% Buy
Trend : Strong Buy
Entry Levels : 1.3110, 1.3060
Profit Booking Levels :  1.3175, 1.3225
Stop Loss: 4H closing below 1.2850


USDJPY CMP : 105.52
Composite Strength Meter Suggests : 77% Sell
Trend : Strong Sell
Entry Levels : 105.80, 106.30
Profit Booking Levels : 105.30, 105.15
Stop Loss: 4H candle closing above 106.50


USDCHF CMP : 0.9083
Composite Strength Meter Suggests : 90% Sell
Trend : Strong Sell
Entry Levels : CMP, 0.9130
Profit Booking Levels : 0.9030, 0.8990
Stop Loss: 4H candle closing above 0.9265


USDCAD CMP : 1.3265
Composite Strength Meter Suggests : 70% Sell
Trend : Strong Sell
Entry Levels : 1.3300, 1.3365
Profit Booking Levels : 1.3220, 1.3160
Stop Loss: 1H candle closing above 1.3460 


XAUUSD CMP : 2043
Composite Strength Meter Suggests : 78% Buy
Trend : Strong Buy 
Entry Levels : 2001, 1970
Profit Booking Levels : 2059, 2085
Stop Loss: 4H candle closing below 1935

Forex cross pairs


EURGBP CMP : 0.9042
Composite Strength Meter Suggests : 77% Buy
Trend : Strong Buy
Entry Levels : CMP, 0.9020
Profit Booking Levels : 0.9065, 0.9085
Stop Loss: 4H candle closing below 0.8965


EURJPY CMP : 125.30
Composite Strength Meter Suggests : 91% Buy
Trend : Strong Buy
Entry Levels : 125.10, 124.70
Profit Booking Levels : 125.70, 126.10
Stop Loss: 4H candle closing below 122.85


GBPJPY CMP : 138.58
Composite Strength Meter Suggests : 50% 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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