Congratulations to all those following this blog and earning decent profits. In previous post some good profit making opportunities were highlighted specifically in eur usd and gbp usd. Traders buying usd jpy on dips are also in good profits. Usd chf buyers are also happy. Aud usd and Nzd usd was predicted to trade in only one direction, that was bearish. Both the pairs are in downtrend since then. Let’s discuss all the major forex pairs in detail.
Following is the detailed analysis in is it time to book profits in eur usd and gbp usd?
Eur Usd :– After making a Top around 1.15000, the pair was under pressure, and to sell on rallies was recommended in our previous post. Later the post was again updated and to sell the pair was recommended around 1.12500. The pair continued to be in downtrend since then. Congratulations to all making good profits. The pair is currently trading around 1.10000. Now the question is if it’s time to book profits in the pair or the pair will continue it’s march downwards? The answer is simple for both risky and conscious traders i.e., book your profits and start buying the pair. We have booked profits yesterday and also started buying around 1.09700. Hope we all make good profits.
Gbp Usd :– Gbp Usd was recommended to sell on rallies in our previous post. Later in 10 March update it was highlighted that the pair is unlikely to sustain it’s strength, the pair was trading around 1.30000 that time. Since then the pair is maintaining it’s weakness and made a low around 1.20000 currently trading around 1.21200. Now the question is if the downtrend paused or will continue. The answer is, however the pair is overstretched but there is no sign of bottom yet. We are waiting to book profits and start to buy the pair.
Usd Jpy :– We were adding Usd Jpy in portfolio on every dip, the pair staged a robust recovery from lower levels of 101.100 and made a high around 108.300. The price currently trading near it’s resistance lines. The Top is expected soon. Current price of the pair is 107.400 expected to trade with some bullish bias for a day or two. We are waiting to sell the pair at some more favorable prices and to start selling the pair. Keep in touch for more updates in the pair.
Usd Chf :– Usd Chf was recommended to buy on dips in our previous posts, the pair made a bottom around 0.91600. Currently trading around 0.96000 and is expected to trade with some bullish bias for a day or two. The pair is very much near to it’s resistance lines. Let the resistance lines hit first before any meaningful reversal. Any further hints will be updated as soon as they arise. We have no positions in this pair.
Stay tuned for more in, is it time to book profits in eur usd and gbp usd ?
DISCLAIMER:- Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.