EURUSD: The pair started turning back after getting extreme oversold in a hourly chart. RSI(14 period) turned back after going below 30 mark and the indicator is showing a positive divergence as well.
Our Preference: – Buy at 1.1570
Target – 1.1594
Stop loss – 1.1560
GBPUSD: After a steep fall which drags the pair below 1.30 mark, is now signalling some sign of recovery. A bullish divergence on a hourly chart is seen in oversold zone. Immediate resistance of 50 (period) EMA is at 1.3030.
Our Preference: – Buy at 1.2995
Target – 1.3030
Stop loss – 1.2978
USDJPY: A trend-line support is seen near 111.67 and along with that RSI(14) is above 50 mark – indicating that bulls are still alive.
Our Preference: – Buy at 111.67
Target – 111.90
Stop loss – 111.50