GBPUSD (1.4454)

GBPUSD seems to be getting back into its downward trend after taking long term retracement and it seems that it might look to now take a dip below 1.4000 level. Traders will be currently looking to sell GBPUSD for anything above 1.4500 level and most preferably around 1.4550 level.

The initial targets will be around 1.4250 level and break of that will certainly open up targets below 1.4000 level. RSI, in daily charts, also have opened up enough for GBPUSD to make a dip towards 1.4000 level.

TRADE:

Sell GBPUSD @ 1.4535 (Sell again @ 1.4660 if required) for Profit Level @ 1.4235 with Stop @ 1.4720

Small trading range for USDJPY

USDJPY (91.38)

USDJPY is settling in an upward trend and Intra-day traders might look to trade with a small stop. Currently such level is around 90.95 for buying USDJPY. Use of small stop is recommended because USDJPY might look to resume its long term downward trend but currently it seems that USDJPY is taking correction for 93.50 to 89.00 leg.

TRADE:

Buy USDJPY @ 90.95 for Profit Level @ 91.55 with Stop @ 90.60

DAILY CHART:

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: