Top 3 trade ideas for 3 August 2026

Trade ideas for EURJPY, USDCAD, and XAGUSD are available today. The ideas expire on 4 August 2026 at 8:00 AM (GMT +3).

EURJPY trade idea

The EURJPY pair remains under selling pressure, with no signs yet that the current downward momentum is ending. However, there is a risk of a bullish correction, which should be viewed as a temporary pause before the decline resumes. Opening short positions at current levels appears less attractive due to the unfavourable risk-to-reward ratio. A breakout below the 180.00 support level would be the key signal confirming the bearish momentum, with the next downside target at 179.00. The EURJPY trade idea for today involves placing a pending Sell Limit order.

Bearish sentiment is slightly prevailing in the EURJPY pair – 51% versus 49%. The risk-to-reward ratio exceeds 1:2. The potential profit is 200 pips at the first take-profit target and 250 pips at the second, while potential losses are limited to 100 pips.

Trading plan

• Entry point: 181.50
• Target 1: 179.50
• Target 2: 179.00
• Stop-loss: 182.50

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USDCAD trade idea

The USDCAD pair remains under pressure, although the intraday chart shows a signal that the downward momentum is becoming exhausted. The formation of a reversal signal suggests a possible recovery in the near term. To confirm the bullish momentum, buyers need to gain a foothold above the 1.4050 resistance level. A successful breakout above this mark is expected to generate additional upward momentum towards 1.4175. The USDCAD trade idea for today involves placing a pending Buy Stop order.

The USDCAD pair shows bearish expectations prevailing at 51% versus 49%. The risk-to-reward ratio exceeds 1:2. The potential profit is 100 pips at the first take-profit target and 125 pips at the second, with potential losses capped at 50 pips.

Trading plan

• Entry point: 1.4050
• Target 1: 1.4150
• Target 2: 1.4175
• Stop-loss: 1.4000

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XAGUSD trade idea

XAGUSD price action analysis indicates a slowdown in the negative momentum and a possible change in short-term direction. The weakening bearish momentum creates conditions for a corrective rise. Despite the prevailing downtrend, the current structure offers an attractive risk-to-reward ratio. A breakout above 58.90 would be the key signal for further growth, with the next potential upside target at 59.32, where the descending trendline is located. The XAGUSD trade idea for today involves placing a pending Buy Stop order.

Market sentiment for XAGUSD shows a bearish bias at 52% versus 48%. The risk-to-reward ratio exceeds 1:6. The potential profit is 6,580 pips at the first take-profit target and 15,700 pips at the second, while potential losses are capped at 2,310 pips.

Trading plan

• Entry point: 58.90
• Target 1: 65.48
• Target 2: 74.60
• Stop-loss: 56.59

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