EURUSD setting itself for a dip

EURUSD (1.2727)

EURUSD seems to be setting itself for dip and it seems that 1.2800 seems a very good selling level. The initial target seems 1.2600 level and some traders might look to target 1.2500 level. The traders will be quite keen to sell EURUSD around this level as it seems that once EURUSD managed to break below 1.2700 level, we might see an extended dip by EURUSD.

  

TRADE:

Sell EURUSD @ 1.2800 for Profit Level @ 1.2600 with Stop @ 1.2860

EURUSD heading towards 1.3350 level

EURUSD (1.3291)

EURUSD seems to be moving in a nice upward trend and this trend seems to continue in the next coming days and it seems that it will try to break above 1.3350 level early nest week. What traders will be currently looking to do is to capture this move by Buying EURUSD for retracement dips around 1.3180 level. RSI seems a bit on the higher side but will open once EURUSD takes a bit of retracement and also will have enough space for EURUSD to make another move towards 1.3350 level.

  

TRADE:

Buy EURUSD @ 1.3180 for Profit Level @ 1.3350 with Stop @ 1.3120

GBPUSD (1.4708)

It seems that GBPUSD might look to take a dip and traders will hope to get it just above 1.4800 level for a intra-day trade towards 1.4700 level. Keeping the current scenario in view, I don’t expect GBPUSD breaking into any side during this week. The same psychology will be affecting clients at the moment and therefore they will be more focused in short term trades.

  

TRADE:

Sell GBPUSD @ 1.4805 for Profit Level @ 1.4705 with Stop @ 1.4845