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

EURUSD heading towards 1.3800 level

EURUSD (1.3659)

EURUSD seems to have settled in a nice upward trend and looking to currently target 1.3800 level. Currently a good buying level can be seen just around 1.3610 level for initial target at 1.3780 level for a nice intra-day trade. RSI is just above 57 and seems to have more than enough space for EURUSD to make a move above 1.3800 level at the moment.

TRADE:

 

Buy EURUSD @ 1.3610 for Profit Level @ 1.3780 with Stop @ 1.3550

EURUSD looking for retracement

EURUSD

EURUSD has moved nicely in a downward trend during last few days and it seems that some retrace is due for EURUSD and we expect EURUSD to test 1.3400 level and might even extend its retracement towards 1.3490 level. Mostly we will find traders looking to sell EURUSD in the range mentioned above for initial target below 1.3300 level. The traders might also have to hold out the position over the weekend as EURUSD might not reach its target before the closing of this week.

Trade:

Sell EURUSD @ 1.3390 and Sell again @ 1.3490 (if required) for Target @ 1.3270 and Stop @ 1.3540

EURUSD looking break sideways trend

EURUSD (1.3479)

EURUSD is being traded in a sideways range and holding itself as compared to the Pound. The volume was also low due to holidays and we might see EURUSD resuming its downward momentum again and might see some aggressive traders looking for an early entry and selling EURUSD around 1.3565 and hope that EURUSD resumes its downward trend.

TRADE:

Sell EURUSD @ 1.3565 for Profit Level @ 1.3450 with Stop @ 1.3525

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