EURUSD: Double top formed on a hourly chart with MACD and Signal line bearish crossover, studies indicating intraday fall.
Our Preference: – Sell at Current Market 1.1727
Target – 1.1705 and 1.1675
Stop loss – 1.1744
USDJPY: The pair is hovering in a downward sloping trend channel in a hourly chart and at present bounced back after testing the support zone. 14-Period RSI also turned back after reaching the oversold zone.
Our Preference: – Buy at current market 110.73
Target – 110.98 and 111.15
Stop loss – 110.56
GBPUSD: Clearly visible bearish divergence on 14 period Relative Strength index(RSI) are pressuring GBP to fall against the US. dollar
Our Preference: – Sell below 1.3170
Target – 1.3138
Stop loss – 1.3186