USDJPY (88.40)

USDJPY is nicely heading towards 88.00 level and currently a good selling level can be see just around 88.70 level for a nice intra-day trade. Once USDJPY manages to break below 88.00 level, we will be looking it targeting 87.40 level next.

Recommended Trade:

Sell USDJPY @ 88.70

Stop @ 89.20

Profit 1 @ 88.00

Profit 2 @ 87.40

USDCHF (1.0733)

USDCHF tested 1.0700 level but was not able to break it and we might see it test it once again. Aggressive traders will look to sell on rise to 1.0790 level and might also use a trailing stop to test 1.0700 level. If USDCHF breaks above 1.0800 level, then traders will look to reverse the position and and look to target 1.0900 level.

Recommended Trade:

Sell USDCHF @ 1.0790

Stop @ 1.0835

Profit 1 @ 1.0710

Profit 2 @ 1.0675

EURUSD (1.3573)

EURUSD almost touched its target at 1.3530 but was unable to break that level. We expect EURUSD to make another attempt towards 1.3530 and break that level which will also set its next target at 1.3400 level. Currently traders will focus on selling EURUSD on rise to retracement levels and sell EURUSD for a nice intra-day trade.

Recommended Trade:

Trade 1: Sell EURUSD @ 1.3585

Trade 2: Sell EURUSD @ 1.3640

Stop @ 1.3690

Profit 1 @ 1.3530

Profit 2 @ 1.3420

NZDUSD (0.7034)

NZDUSD touched its target at 0.7050 and we might see a dip from NZDUSD from that level as there is a good resistance present around 0.7050 in weekly charts. Aggressive traders will look to sell NZDUSD around that level with a short stop and will target a nice intra-day trade along the retracement.

Recommended Trade:

Sell NZDUSD @ 0.7045

Stop @ 0.7080

Profit 1 @ 0.6985

Profit 2 @ 0.6930

USDJPY (89.24)

USDJPY is moving in a very nice downward trend and this trend seems to go in the manner in the coming week. Currently a good selling level is present at 89.50 level and initial targets are seen around 88.60 level, break of which will set 87.50 as the next target for USDJPY.

Recommended Trade:

Sell USDJPY @ 89.50

Stop @ 90.20

Profit 1 @ 88.60

Profit 2 @ 87.50

GBPUSD (1.6134)

GBPUSD seems to be approaching the end of triangle it was trapped for some time now and we might see GBPUSD taking an extended move towards one direction.  What intra-day trader would like to do is to sell GBPUSD with small stops and hope that it take a good dip this time. Judging by the overall market trend the possibilities of GBPUSD taking dip is more likely than its taking an extended upward move.

Recommended Trade:

Sell GBPUSD @ 1.6230

Stop @ 1.6280

Profit 1 @ 1.6130

Profit 2 @ 1.6000

USDCHF (1.0258)

USDCHF is setting itself for a nice trade and buying at a dip to 1.0230 level with small stop seems a good opportunity for the traders. The initial target will be at 1.0300 level and break of that will set 1.0370 as next target.

Recommended Trade:

Trade: Buy USDCHF @ 1.0230

Stop @ 1.0185

Profit 1 @ 1.0300

Profit 2 @ 1.0370

USDJPY (91.38)

USDJPY seems to be heading towards 90.20 level and mostly traders will be interested in selling USDJPY on rise to retracement and  first such opportunity can be currently seen around 91.60 level for a nice intra-day trade. Extension of retracement can be seen to 92.30 level.

Recommended Trade:

Trade 1: Sell USDJPY @ 91.60

Trade 2: Sell USDJPY @ 92.30

Stop @ 92.80

Profit @ 90.30