FX Today's Trade Strategy 10/26

EURUSD Euro/Dollar

・Yesterday's Trade

Yesterday, in the morning, it rose above last week's high of 0.9875 on the H4 timeframe and confirmed a Dow (downtrend) reversal.

In the evening, it formed a bottom around 0.9850, so I went long.

Since it broke the daily chart upper channel at 0.990, I held the position.

At night it stopped rising, so I exited. +96 pips

・Market environment and today's strategy

The daily channel was easily broken, indicating buying strength.

Is the next resistance around 1.0?

Today I want to focus on price action around yesterday's high 0.9976 or near 1.0.

If it dips, and creates a pullback around Monday's high near 0.990, I will consider going long.

USDJPY Dollar/Yen

・Yesterday's Trade

During the day yesterday, it capped at 149.0, forming a resistance level and dampening buying interest.

In the NY session, when it started to fall, I viewed it as a pullback sell against the previous day's downtrend and went short.

+100 pips

・Market environment and today's strategy

Yesterday showed Monday's reversal selling in play.

We're looking at how far this decline will continue.

As long as it does not break below 146.0, buying pressure seems likely to exist.

The daily moving average acting as support is approaching; will it hold and push higher again at that support?