USDCHF (1.0333)

USDCHF seems to be gradually going towards its target at 1.0200 level and from there it might resume its upward trend. Currently the trading volume is very low and we might not see USDCHF moving too sharply and intra-day traders will look for entries with small stops and small profit targets.

Selling just above 1.0350 level seems a good opportunity for a small trade at the moment and long term traders will look to hold back till USDCHF settles itself in one direction.

Recommended Trade:

Sell USDCHF @ 1.0358

Stop @ 1.0400

Profit @ 1.0300

EURUSD (1.4257)

EURUSD is looking to gradually move towards its target at 1.4185 level and we might see it doing so in a day or so. Although the trading volume is expected to become more and more thin as the days progress but the other factor which is holding EURUSD back is a low value of RSI and we expect to see EURUSD being traded in short range for the nest few days.


Recommended Trade:

Sell EURUSD @ 1.4295
Stop @ 1.4335
Profit @ 1.4190

GBPUSD (1.6141)

GBPUSD is moving in a nice downward trend and looking good to head below 1.6000 level during next week. Mostly we will find traders looking to sell GBPUSD on rise to retracement levels and currently a good level can be seen around 1.6200 and this might be the initial selling point for traders during this coming week. RSI is on the lower side in daily charts but seems to have enough space to allow GBPUSD to make a move towards 1.6000 level.


Recommended Trade:

Sell GBPUSD @ 1.6200
Stop @ 1.6260
Profit @ 1.6050

USDJPY (88.61)

USDJPY is currently looking to head towards its target at 88.15 and before doing so it might take a rise just above 89.00 level and around this level we might see trading selling USDJPY for a nice intra-day trade.

Recommended Trade:

Sell USDJPY @ 89.10
Stop @ 89.60
Profit @ 88.20