EURUSD: – Pair is trading in a narrow range on hourly charts likely to take support around 1.1550 levels and seen consolidating around the same. Momentum indicators like RSI at 43 is indicating to buy with MACD around zero line giving buy signals.
Our Preference: – Buy Below 1.1560
Target – 1.1585-1.1590
Stop loss – 1.1545
GBPUSD: – Pair is trading around 7 month lows on daily charts seen recovering from current levels, currently below 21 day SMA on hourly charts. Momentum indicators with RSI at 41 and MACD below zero line giving buying signals.
Preference: – Buy below 1.3160
Target – 1.3190-1.3200
Stop loss – 1.3147
USDJPY: – Pair is trading close to the near term high of 111 after recovering from below 110 levels, currently trading above 14 day SMA on hourly charts. Technical indicators like RSI at 76 and MACD above zero line giving sell signals.
Our Preference: – Sell above 110.75
Target – 110.40-110.50
Stop loss – 110.90