The overview is based on trade ideas provided by the Acuity Trading service. RoboForex analysts only select ideas from those available on the platform and do not develop them independently. Please note that trading in financial markets involves high risks, and the ideas presented are not investment recommendations.
Trade ideas for EURUSD, USDCAD, and EURJPY are available today. The ideas expire on 8 May 2025 at 8:00 AM.
EURUSD trade idea
The EURUSD currency pair has shown mixed performance over the past 17 trading sessions. A Head and Shoulders reversal pattern is developing on the chart, although the potential for growth remains. The expected decline is seen as corrective, with buying remaining the preferred strategy. Today’s EURUSD trade idea suggests placing a pending Buy Limit order.
News sentiment for EURUSD remains neutral, with expectations evenly split – 50% vs 50%. The risk-to-reward ratio stands at 1:3. Potential profit at the first take-profit target is 154 pips, and 180 pips at the second, while possible losses are limited to 50 pips.
EURUSD trade idea for 7 May 2025
Trading plan
- Entry Point: 1.1320
- Target 1: 1.1474
- Target 2: 1.1500
- Stop-Loss: 1.1270
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USDCAD trade idea
The USDCAD currency pair remains in a consolidation phase, trading within a narrow range and showing no clear short-term trend. The RSI indicator hovers near the 50 level, confirming a neutral market sentiment and lack of directional momentum. A breakout above the 1.3800 resistance level will confirm bullish momentum, with a potential upside target at 1.3925. Today’s USDCAD trade idea suggests placing a pending Buy Limit order.
News sentiment for USDCAD shows a moderate dominance of negative expectations – 55% vs 45%. The risk-to-reward ratio exceeds 1:2. Potential profit at the first take-profit target is 150 pips, and 175 pips at the second, with possible losses limited to 75 pips.
USDCAD trade idea for 7 May 2025
Trading plan
- Entry Point: 1.3750
- Target 1: 1.3900
- Target 2: 1.3925
- Stop-Loss: 1.3675
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EURJPY trade idea
The EURJPY currency pair continues to trend steadily upwards, with no signs of this momentum fading. Despite the general bullish sentiment, a short-term downward correction is possible, which will not disrupt the bullish structure. A breakout above the 163.00 resistance level will signal a resumption of the upward move, with a potential target at 164.50. Today’s EURJPY trade idea suggests placing a pending Buy Limit order.
News sentiment for EURJPY reflects a slight dominance of negative expectations – 51% vs 49%. The risk-to-reward ratio exceeds 1:2. Potential profit at the first take-profit target is 200 pips, and 250 pips at the second, with potential losses capped at 100 pips.
EURJPY trade idea for 7 May 2025
Trading plan
- Entry Point: 162.00
- Target 1: 164.00
- Target 2: 164.50
- Stop-Loss: 161.00
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