EURUSD
Market Trend
In the daily chart, now the market is in the sideways trend. The price is near the bottom of the sideways trend.
In the four hours chart, the market shows us clear two meaningful areas, one is the support area which is around 1.07500, and the other one is the resistance area which is around 1.09900. The price is near the support area and shows us a triple bottom pattern.
Trading Plan
I prefer to trade with the harmonic patterns. A bearish bat pattern is spotted in one hour chart, it provides a potential reversal level is around 1.09900. It is overlapping the meaningful resistance. I will wait for the market to reach 1.09900. If the market gives me confirmation signals later, I will decide should I short the market.
Trade Ideas
Sell limit: 1.09900
SL: 1.10460 (-56)
TP1: 1.09050 (+85) 1.52:1
TP2: 1.07500 (+139) 2.48:1
GBPUSD
Market Trend
In the daily chart, the market breaks below support level 1.22080. The market now is in the downtrend.
In the four hours chart, the market breaks below support level 1.22080, it becomes resistance level immediately.
Trading Plan
I will wait for the market to re-test the new resistance level 1.22080, and then waiting for the selling opportunity.
Trade Ideas
Sell limit: 1.22200
SL: 1.22670 (-47)
TP: 1.20650 (+155)
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