Top 3 trade ideas for 8 May 2026

Trade ideas for EURUSD, USDJPY, and EURGBP are available today. The ideas expire on 8 May 2026 at 11:00 PM (GMT +3).

EURUSD trade idea

The main trend in the EURUSD pair remains bullish, but current levels appear risky for opening long positions. In the near term, the market may shift into a short-term bearish correction towards the 1.1700 support level. A declining RSI indicator is an additional signal of temporary weakening for the euro, indicating a gradual cooling of bullish momentum. Today’s EURUSD trade idea suggests placing a pending Buy Limit order.

The news background for EURUSD shows prevailing bearish expectations – 61% vs 39%. The risk-to-reward ratio is 1:5. The potential profit is 80 pips at the first take-profit level and 100 pips at the second, while potential losses are capped at 20 pips.

Trading plan

• Entry point: 1.1700
• Target: 1.1780
• Target 2: 1.1800
• Stop-loss: 1.1680

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USDJPY trade idea

The USDJPY currency pair closed moderately higher, but price action remained within the previous session's range, indicating market indecision. The main buying activity was seen during the Asian session, although further bullish momentum remains limited. The nearest resistance level is located at 157.95. In this context, the preferred scenario is to sell USDJPY on a rally. Today’s USDJPY trade idea suggests placing a pending Sell Limit order.

Market sentiment for USDJPY shows a bearish bias – 63% vs 37%. The risk-to-reward ratio exceeds 1:7. The potential profit is 195 pips at the first take-profit level and 430 pips at the second, while potential losses are limited to 60 pips.

Trading plan

• Entry point: 157.95
• Target 1: 156.00
• Target 2: 153.65
• Stop-loss: 158.55

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EURGBP trade idea

The EURGBP pair is forming a bear flag pattern, indicating a high probability of a continued downward move. An additional bearish signal is the formation of a reversal candlestick pattern. The overnight rise in quotes was limited, and recovery attempts are likely to be capped by the previous session’s high. Overall, short-term risks for the EURGBP pair remain tilted towards an imminent decline, and the baseline scenario suggests a downside breakout from the current range. Today’s EURGBP trade idea involves placing a pending Sell Limit order.

For EURGBP, bearish sentiment prevails – 57% vs 43%. The risk-to-reward ratio exceeds 1:3. The potential profit is 33 pips at the first take-profit level and 43 pips at the second, with potential losses limited to 11 pips.

Trading plan

• Entry point: 0.8654
• Target: 0.8621
• Target 2: 0.8611
• Stop-loss: 0.8665

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