EURUSD looking to resume its trend

EURUSD (1.2313)

EURUSD is currently taking retracement at the moment and seems to be setting for a nice downward dip and traders will be focusing selling EURUSD around 1.2350 level. Initial target can been seen around 1.2125 level and this can further extend towards 1.2000 level. RSI has also opened up considerably and thus will support good dip by EURUSD.

TRADE:

Sell EURUSD @ 1.2350 for Profit Level @ 1.2150 with Stop @ 1.2420

DAILY CHART:

EURUSD setting up for another dip

EURUSD (1.2257)

EURUSD is moving nicely and gradually towards 1.2100 level and taking good retracements as well. The retracements not only allowing EURUSD to open up RSI but also traders, especially Intra-Day traders to enter the market for nice intra-day trades. The current retracement might extend to 1.2350 level and that will be an ideal level for Intra-day traders to sell EURUSD for a nice trade.

TRADE:

Sell EURUSD @ 1.2350 for Profit Level @ 1.2150 with Stop @ 1.2420

DAILY CHART:

GBPUSD looking to target 1.4235

GBPUSD is moving in a nice downward trend and this trend seems to continue and currently it seems that trades will be looking to sell GBPUSD around 1.4415 level for a nice intra-day trade towards 1.4235 target. RSI is a bit on the lower side but still seems to have more than enough space to make a move towards 1.4235 level.

TRADE:

Sell GBPUSD @ 1.4415 for Profit Level @ 1.4235 with Stop @ 1.4465

DAILY CHART:

USDJPY looking to continue its trend

USDJPY (90.04)

USDJPY seems to have settled in a nice downward trend and it seems to stay that way and currently USDJPY has taken some very good retrace and mostly trades will be aiming to sell USDJPY around 90.35 level for a nice dip towards 89.25 level. Break of 89.5 level will set 88.35 as next target for USDJPY. RSI was a little bit on the lower side but the retracement has opened up RSI enough for USDJPY to take a comfortable dip below 89.50 level.

TRADE:

 

Sell USDJPY @ 90.35 for Profit Level @ 89.25 with Stop @ 91.20

DAILY CHART:

EURUSD being traded sideways

EURUSD seems to have caught in a sideways range after a good sharp dip and it seems that it is mostly due to the fact that RSI was on the lower side and trading sideways along with small retracements will help EURUSD to open up the RSI. Once the RSI will have some space, then we might see EURUSD making another attempt towards 1.2100 level. Currently intra-day traders will be looking to sell EURUSD around 1.2410 level for a nice dip towards 1.2300 level.

TRADE:

Sell EURUSD @ 1.2415 for Profit Level @ 1.2280 with Stop @ 1.2465

DAILY CHART:

Oversold GBPUSD looking to keep the momentum

GBPUSD has taken a very good dip and also have move in a nice downward trend. The downward trend seems to stay intact and we might see another dip by GBPUSD. The next dip by GBPUSD might be limited by the low value of RSI and this might also cause GBPUSD to take some retracement as well. The current retracement might go as high as 1.4840 and in that case will offer some very good trade entries. Aggressive traders might look to enter below that level as well.

TRADE:

Sell GBPUSD @ 1.3540 for Profit Level @ 1.3780 with Stop @ 1.4260

DAILY CHART:

EURUSD looking to target 1.2500 level

EURUSD is looking to carry its current momentum and looking to break below 1.2500 level. RSI is getting a bit on the lower side and this might also push EURUSD a bit up for retracement. We might see EURUSD initially taking a small dip and then taking some retracement and that will provide lots of selling opportunities for traders looking to sell EURUSD. Currently the retrace might go towards 1.2775 level and around that level we will see traders looking to sell EURUSD for targets below 1.2500 level.

Trade:

Sell EURUSD @ 1.2775 (Sell again @ 1.2938 if needed) for Profit Limit @ 1.2500 and Stop @ 1.3000

EURUSD due for some retrace

EURUSD (1.2820):

EURUSD has take a very good and continious dip for the last three days. Although its trend seems to stay the same way and we might see EURUSD going towards 1.2700 level, but it seems that some retracement is due for EURUSD and before taking further dip, EURUSD might look to take some retracement towards 1.2930 level and the retracement might even extend above 1.3050 level.

Traders, especially who are not currently in trade, will be hoping for EURUSD to take some retrace and Sell it for targets around 1.2710 level.

Trade:

Sell EURUSD @ 1.2935 (Sell again @ 1.3075 if needed) for Profit Limit @ 1.2710 and Stop @ 1.3120

GBPUSD caught in sideways movement

GBPUSD (1.5273)

GBPUSD seems to be caught in a sideways movement at the moment and traders looking to trade in range will have pretty good trading opportunities for Intra-day trades with decent stops. Currently the range is between 1.5400 and 1.5200 levels and we see the same pattern during this week. At the moment a good sell can be seen around 1.5320 level for a nice Intra-day trade.

Trade:

Sell GBPUSD @ 1.5322 for Profit Target @ 1.5220 and Stop @ 1.5430