GBPUSD taking retrace

GBPUSD (1.4894)

GBPUSD took a good dip towards its target at 1.4850 as predicted in our last report. For the time being, it seems that GBPUSD will take some retrace and currently the retrace seems to go towards 1.4975 level and mostly traders will be interested in selling GBPUSD around that level. In case the retracement is extended above 1.5000 level, then we might the traders might wait for GBPUSD to get towards 1.5135 and then sell GBPUSD again to average out positions. The 1.5135 is also good level for weekly traders and a good weekly resistance as well.

TRADE:

Sell GBPUSD @ 1.4975 and Sell again @ 1.5135 (if required) for Profit Level @ 1.4850 with Stop @ 1.5200

GBPUSD looking for a dip

GBPUSD (1.4961)

GBPUSD is looking to take a good dip and currently traders will hope to get GBPUSD around 1.5000 level to sell it for a nice dip towards 1.4850 level. Break of 1.4850 level could start a really extended dip by GBPUSD therefore long term traders might like to hold position for a break below 1.4850 and the use a reasonable stop loss to extend their profit. RSI is just around 40 and seems to have more than enough space for an extended dip.

TRADE:

Sell GBPUSD @ 1.5000 for Profit Level @ 1.4850 with Stop @ 1.5100

GBPUSD looking to continue momentum

GBPUSD (1.5017)

GBPUSD took a good dip to close last week and it seems that it might continue its momentum during next week. What traders will look to get it on rise to have its retracement towards 1.5125 level and around that level we might see GBPUSD resuming its downwards trend. The 1.5125 level seems a good level not only in daily but also in weekly charts and selling around that level will be a good entry. If GBPUSD manages to keep the current momentum, it will be heading towards 1.4800 level.

TRADE:

Sell GBPUSD @ 1.5125 for Profit Level @ 1.4850 with Stop @ 1.5200

EURUSD resuming downward trend

EURUSD: (1.3549)

EURUSD took a dip and seems to have resumed the downward trend. Currently EURUSD seems to be heading towards 1.3450 level and therefore traders will now look to get EURUSD around 1.3600 level for a nice target around 1.3450 level. RSI is just above 41 and this seems to have more than enough space to break below 1.3450 level during this dip.

TRADE:

Sell EURUSD @ 1.3605 for Profit Level @ 1.3450 with Stop @ 1.3450

EURUSD looking to test 1.3815 again

EURUSD: (1.3758)

EURUSD tested 1.3815 once today and took a dip from that level. EURUSD seems to set itself up for another move towards 1.3815 and try to break that level. Once EURUSD manages to break above 1.3815 level, we will be looking at EURUSD heading towards 1.4150 level next.  What traders will be looking is to buy EURUSD around 1.3685 level for initial target at 1.3815 level.

TRADE:

Buy EURUSD @ 1.3685 for Profit Level @ 1.3815 with Stop @ 1.3600

EURUSD ready to test important levels

EURUSD: (1.3671)

EURUSD seems to get back into its selling trend and will look to test some good supports at the moment. The first such support can be seen at 1.3625 level and the second one can be seen at 1.3538 level and both seems to provide some support to the downward fall. Once EURUSD manages to break below 1.3538 level, we might see an extended dip by EURUSD. Currently traders might look to sell on rise during retracement for intra-day targets.

TRADE:

Sell EURUSD @ 1.3690 for Profit Level @ 1.3625 with Stop @ 1.3740

EURUSD ready to test supports

EURUSD: (1.3642)

EURUSD is currently being traded in a sideways range and this has helped EURUSD to easy RSI and we might see EURUSD taking a dip below 1.3600 level and therefore traders will look to sell EURUSD around 1.3680 level for a nice move below 1.3600 level. There is currently a good support around 1.3540 and once EURUSD managed to break that, traders will be extending their profits to 1.3450 targets.

TRADE:

Sell EURUSD @ 1.3680 for Profit Level @ 1.3580 with Stop @ 1.3740

EURUSD looking to resume trend

EURUSD: (1.3620)

EURUSD is currently being traded in a sideways range and it was also due to the reason that EURUSD had a very low RSI value. Now it might once again look to set itself up for a dip towards 1.3500 level. Currently a good resistance can be seen just around 1.3655 level and aggressive traders might to look to sell EURUSD around that level. If EURUSD breaks above 1.3655 level, then the next good resistance can be seen just around 1.3785 level and long term traders will surely look to focus that level. Intra-day traders might look to sell EURUSD around 1.3655 with decent stop and look for EURUSD to make an early dip.

TRADE:

Sell EURUSD @ 1.3655 for Profit Level @ 1.3530 with Stop @ 1.3700

USDJPY taking retrace

USDJPY: (89.04)

USDJPY is looking to take some retrace towards 89.20 level and from there it might look to resume. The retracement can extend towards 89.85 level as well but the overall scenario still looks good for selling. Traders will look to sell USDJPY initially just above 89.00 level. The trade might be aimed at staying for couple of days as the dip is also not expected to be too much quick.

TRADE:

Sell USDJPY @ 89.20 for Profit Level @ 87.90 with Stop @ 90.20

EURUSD looking to continue its momentum

EURUSD: (1.3575)

EURUSD seems to carry on its downward trend at the moment but the only thing that seems to slow down the dip is the low RSI but EURUSD is getting over it by taking reasonable retracements and this also is providing traders, especially intra-day traders with good selling levels. Currently a good selling level can be seen just below 1.3600 level and traders will be aiming to sell EURUSD for a dip below 1.3500 level. RSI is just above 40 and it seems that it will also support an extended dip by EURUSD.

TRADE:

Sell EURUSD @ 1.3590 for Profit Level @ 1.3450 with Stop @ 1.3670