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

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