FX Today's Trading Strategy 8/17
EURUSD Euro/US Dollar
・Yesterday's Trade
Yesterday, since it broke below the weekly low of 1.01580, I entered short, but buying was stronger than expected and I cut.
About -10 pips.
・Market Environment and Today’s Strategy
Buying around the previous week's low near 1.0122 seems strong.
It looks like yesterday formed a large W-bottom pattern at the low.
I want to gauge how strong buying is from yesterday’s low.
In the short-term chart, if it creates an up Dow or breaks yesterday’s high, consider buying.
USDJPY Dollar/Yen
・Yesterday's Trade
Yesterday, in the evening, I went long after breaking above the Tokyo session high of 133.50.
Held until night. About +70 pips.
・Market Environment and Today’s Strategy
Yesterday, an upward wave occurred, but it is being capped by the daily MA.
There seems to be resistance around 134.50.
Today’s milestone is set at 134.50; watch whether it can break above this level.
If it declines to 134.0 or 133.50, I will look to confirm a bottom and consider going long.
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