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

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