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