Trade Setups for US Majors and Yen Crosses 10 July 2024 11.21 AM AEST GMT+10

EURUSD Trade Setup for Today

Entry, Stop Loss, and Take Profit Levels

  • Current Price: 1.08149
  • Position: Buy
  • Entry Point: 1.08149 (Current Price)
  • Stop Loss: 1.07500
  • Take Profit Levels:
  • First Target: 1.08700
  • Second Target: 1.09000

Logic Behind the Trade Setup

  1. Technical Analysis:
  • The current trend for EURUSD is showing positive momentum, with the pair displaying bullish indicators.
  • Key support levels are identified at 1.07500 and 1.08000, which can act as foundations for the price to rise further.
  1. Market Sentiment:
  • The sentiment is supported by EURUSD’s recent performance, with a 0.65% rise over the past week.
  • Economic factors, including the interest rate differential between the Eurozone and the US, also favor the EURUSD pair’s strength.
  1. Risk Management:
  • A stop loss at 1.07500 helps manage downside risk by exiting the trade if the market moves against the position.
  • The take profit levels are strategically set to lock in gains at significant price points, ensuring a favorable risk-reward ratio.

GBPUSD Trade Setup for Today

Entry, Stop Loss, and Take Profit Levels

  • Current Price: 1.27876
  • Position: Buy
  • Entry Point: 1.27876 (Current Price)
  • Stop Loss: 1.27000
  • Take Profit Levels:
  • First Target: 1.28500
  • Second Target: 1.29000

Logic Behind the Trade Setup

  1. Technical Analysis:
  • The current trend for GBPUSD is bullish, with the pair displaying positive momentum and technical indicators.
  • Key support levels are identified at 1.27000 and 1.27500, which can act as foundations for the price to rise further.
  1. Market Sentiment:
  • The sentiment is supported by GBPUSD’s recent performance, with a 0.81% rise over the past week and a 0.50% rise over the past month.
  • Economic factors, including the interest rate differential between the UK and the US, also favor the GBPUSD pair’s strength.
  1. Risk Management:
  • A stop loss at 1.27000 helps manage downside risk by exiting the trade if the market moves against the position.
  • The take profit levels are strategically set to lock in gains at significant price points, ensuring a favorable risk-reward ratio.

USDJPY Trade Setup for Today

Entry, Stop Loss, and Take Profit Levels

  • Current Price: 161.43
  • Position: Buy
  • Entry Point: 161.43 (Current Price)
  • Stop Loss: 160.50
  • Take Profit Levels:
  • First Target: 162.50
  • Second Target: 163.00

Logic Behind the Trade Setup

  1. Technical Analysis:
  • The current trend for USDJPY is bullish, with the pair showing upward momentum and positive technical indicators.
  • Key support levels are identified at 160.50 and 161.00, which can act as foundations for the price to rise further.
  1. Market Sentiment:
  • The sentiment is supported by the USDJPY’s recent performance, with a 2.89% rise over the past month and a 14.24% increase over the last year.
  • Economic factors, including the interest rate differential between the Federal Reserve and the Bank of Japan, also favor the USDJPY pair’s strength.
  1. Risk Management:
  • A stop loss at 160.50 helps manage downside risk by exiting the trade if the market moves against the position.
  • The take profit levels are strategically set to lock in gains at significant price points, ensuring a favorable risk-reward ratio.

EURJPY Trade Setup for Today

Entry, Stop Loss, and Take Profit Levels

  • Current Price: 174.586
  • Position: Buy
  • Entry Point: 174.586 (Current Price)
  • Stop Loss: 173.50
  • Take Profit Levels:
  • First Target: 175.50
  • Second Target: 176.00

Logic Behind the Trade Setup

  1. Technical Analysis:
  • The current trend for EURJPY is bullish, with the pair showing upward momentum and positive technical indicators.
  • Key support levels are identified at 173.50 and 174.00, which can act as foundations for the price to rise further.
  1. Market Sentiment:
  • The sentiment is supported by the EURJPY’s recent performance, with a 3.10% rise over the past month.
  • Economic factors, including the Eurozone’s and Japan’s economic policies, also favor the EURJPY pair’s strength.
  1. Risk Management:
  • A stop loss at 173.50 helps manage downside risk by exiting the trade if the market moves against the position.
  • The take profit levels are strategically set to lock in gains at significant price points, ensuring a favorable risk-reward ratio.

GBPJPY Trade Setup for Today

Entry, Stop Loss, and Take Profit Levels

  • Current Price: 206.48
  • Position: Buy
  • Entry Point: 206.48 (Current Price)
  • Stop Loss: 205.20
  • Take Profit Levels:
  • First Target: 207.50
  • Second Target: 208.00

Logic Behind the Trade Setup

  1. Technical Analysis:
  • The current trend for GBPJPY is bullish, with the pair showing upward momentum and positive technical indicators.
  • Key support levels are identified at 206.00 and 206.50, which can act as foundations for the price to rise further.
  1. Market Sentiment:
  • The sentiment is supported by the GBPJPY’s recent performance and technical indicators signaling a buy.
  • Geopolitical stability and interest rate policies are also in favor of the GBPJPY pair’s strength.
  1. Risk Management:
  • A stop loss at 205.20 helps manage downside risk by exiting the trade if the market moves against the position.
  • The take profit levels are strategically set to lock in gains at significant price points, ensuring a favorable risk-reward ratio.

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