EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.2200
Key G7 support levels: 1.2320, 1.2300. 1.2280, 1.2250
Counter-trend and scalping opportunities: 1.2427
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today’s trade suggestion:
What a fantastic opportunity last week to buy the euro and the pound! This week the trend looks set to continue higher, as long as we remain above the weekly reversal level at 1.2200. We’re looking to buy into dips to supports at the levels listed above, with the 1.2300/2320 levels being key. Watch and wait for a clear G7 reversal signal, before buying Target for long positions is 1.2420 and then the key 1.2480 level. Scalpers and counter-trend traders will be eyeing the 0.786% Fibonacci at 1.2427 for possible selling opportunities, however, as the bullish trend is gathering momentum, I suggest being very careful with counter-trend trades unless a genuine scalping opportunity arises. (Refer to my scalping videos and the upcoming course for the three setup types)

Summary:
Buy dips to supports after a clear G7 signal. Possibly try counter-trend shorts at 1.2427 after a decent G7 entry
signal.
GBP/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.4700
Key G7 support levels: 1.5000, 1.4935, 1.4860, 1.4750
Counter-trend opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal

Today’s trade suggestion:
The pound is traveling higher in a well-formed channel, with multiple layers of support below. The neat pattern makes is tough to pinpoint the precise support levels, but the important areas are listed above. The key is to not get too bent on determining precise support levels, but to find the zones or areas where the pound is likely to find a platform. Then watch closely for a clear g7 entry signal to buy. Now that we have broken through daily and weekly resistance, the pound should try to head for 1.5500 – possibly this week. Scalpers and counter-trend traders can look for short trades from the channel top. Otherwise be patient and wait for dips to support before buying.

Summary:
Buy dips to supports listed above after a clear entry signal. Target 1.5000 and then perhaps 1.5500.