EURUSD: – A sharp recovery in the pair from support of 1.15, above 1.650 now. Technical indicators like MACD crossover above zero line with RSI towards overbought territory giving sell signals.
Our Preference: – Sell Above 1.1670
Target – 1.1630-1.1640
Stop loss – 1.1685
GBPUSD: – Recovered from lows of 1.3230 levels likely to take resistance around the horizontal blue line on top, currently trading above 21 day SMA. Momentum indicators MACD above zero line and RSI giving sell signals.
Preference: – Sell above 1.3315
Target – 1.3270-1.3280
Stop loss – 1.3233
USDJPY: – Likely to take resistance on upside and head lower towards 108.50. Technical indicators like MACD below zero line and RSI giving neutral signs.
Our Preference: – Sell above 108.75
Target – 108.50-108.60
Stop loss – 108.85