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Forex Market Update 12/08/20




EURUSD CMP : 1.1721
Composite Strength Meter Suggests : 82% Buy
Trend : Strong Buy
Entry Levels : CMP, 1680
Profit Booking Levels : 1.1790, 1.1825
Stop Loss: 4H candle closing below 1.1550


AUDUSD CMP : 0.7121
Composite Strength Meter Suggests : 77% Buy
Trend : Strong Buy
Entry Levels : CMP, 0.7100
Profit Booking Levels : 0.7190, 0.7210
Stop Loss: 4H candle closing below 0.6970


NZDUSD CMP : 0.6554
Composite Strength Meter Suggests : 66% Buy
Trend : Neutral - Mild Buy
Entry Levels : Avoid
Profit Booking Levels : NA
Stop Loss: NA


GBPUSD CMP : 1.3027
Composite Strength Meter Suggests : 71% Buy
Trend : Strong Buy
Entry Levels : 1.3016, 1.2985
Profit Booking Levels :  1.3140, 1.3170
Stop Loss: 4H closing below 1.2850


USDJPY CMP : 106.75
Composite Strength Meter Suggests : 54% Buy
Trend : Neutral 
Entry Levels : Avoid
Profit Booking Levels : NA
Stop Loss: NA


USDCHF CMP : 0.9190
Composite Strength Meter Suggests : 78% Sell
Trend : Strong Sell
Entry Levels : CMP, 0.9210
Profit Booking Levels : 0.9110, 0.9080
Stop Loss: 4H candle closing above 0.9265


USDCAD CMP : 1.3335
Composite Strength Meter Suggests : 69% Sell
Trend : Neutral - Mild Sell
Entry Levels : Avoid
Profit Booking Levels : NA
Stop Loss: NA 


XAUUSD CMP : 1887
Composite Strength Meter Suggests : 59% Sell
Trend : Neutral
Entry Levels : Avoid
Profit Booking Levels : NA
Stop Loss: NA

Forex cross pairs


EURGBP CMP : 0.8997
Composite Strength Meter Suggests : 67% Buy
Trend : Mild Buy - Neutral
Entry Levels : Avoid
Profit Booking Levels : NA
Stop Loss: NA


EURJPY CMP : 125.13
Composite Strength Meter Suggests : 90% Buy
Trend : Strong Buy
Entry Levels : CMP, 124.66
Profit Booking Levels : 125.80, 126.20
Stop Loss: 4H candle closing below 122.85


GBPJPY CMP : 139.05
Composite Strength Meter Suggests : 57% 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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