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Forex Market Update 07/08/20




EURUSD CMP : 1.1820
Composite Strength Meter Suggests : 83% Buy
Trend : Strong Buy
Entry Levels : 1.1787, 1.1728
Profit Booking Levels : 1.1925, 1.1970
Stop Loss: 4H candle closing below 1.1550


AUDUSD CMP : 0.7195
Composite Strength Meter Suggests : 91% Buy
Trend : Strong Buy
Entry Levels : 0.7180,0.7150, 0.7130
Profit Booking Levels : 0.7250, 0.7280
Stop Loss: 4H candle closing below 0.6970


NZDUSD CMP : 0.6661
Composite Strength Meter Suggests : 86% Buy
Trend : Strong Buy
Entry Levels : CMP, 0.6640
Profit Booking Levels : 0.6690, 0.6710
Stop Loss: 4H candle closing below 0.6500


GBPUSD CMP : 1.3104
Composite Strength Meter Suggests : 84% Buy
Trend : Strong Buy
Entry Levels : CMP, 1.3074
Profit Booking Levels :  1.3175, 1.3225
Stop Loss: 4H closing below 1.2850


USDJPY CMP : 105.63
Composite Strength Meter Suggests : 77% Sell
Trend : Strong Sell
Entry Levels : 105.70, 105.90
Profit Booking Levels : 105.30, 105.15
Stop Loss: 4H candle closing above 106.50


USDCHF CMP : 0.9130
Composite Strength Meter Suggests : 79% Sell
Trend : Strong Sell
Entry Levels : CMP, 0.9160
Profit Booking Levels : 0.9030, 0.8990
Stop Loss: 4H candle closing above 0.9265


USDCAD CMP : 1.3368
Composite Strength Meter Suggests : 59% Sell
Trend : Neutral
Entry Levels : Avoid
Profit Booking Levels : NA
Stop Loss: NA 


XAUUSD CMP : 2050
Composite Strength Meter Suggests : 78% Buy
Trend : Strong Buy 
Entry Levels : 2037,2014
Profit Booking Levels : 2076, 2092
Stop Loss: 4H candle closing below 1935

Forex cross pairs


EURGBP CMP : 0.9026
Composite Strength Meter Suggests : 68% Buy
Trend : Mild Buy
Entry Levels : CMP, 0.8990
Profit Booking Levels : 0.9065, 0.9085
Stop Loss: 4H candle closing below 0.8965


EURJPY CMP : 124.90
Composite Strength Meter Suggests : 85% Buy
Trend : Strong Buy
Entry Levels : CMP, 124.30
Profit Booking Levels : 125.70, 126.10
Stop Loss: 4H candle closing below 122.85


GBPJPY CMP : 138.38
Composite Strength Meter Suggests : 55% 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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