EURUSD: After a steep intraday fall, EURUSD has pulled back with sharp gains – trading above 200 period Simple moving average with MACD and Signal line crossover.
Our Preference: – Buy at 1.1680
Target – 1.1705 and 1.1720
Stop loss – 1.1665
GBPUSD: The pair is attempting to test its 200-period Simple moving average which is lying at around 1.3136, along with that RSI is inching towards its overbought zone.
Our Preference: – Sell at 1.3136
Target – 1.3110
Stop loss – 1.3149
USDJPY: A Symmetric triangle is formed on a 30 minutes chart, at present the pair is trading on the lower range of this pattern. A pullback towards the resistance is expected.
Our Preference: – Buy at current market(111.14)
Target – 111.40
Stop loss – 111.01