EURUSD: The pair has formed its temporary bottom at around 1.1550 mark. GBPUSD likely to test its immediate resistance of 50 period Exponential moving average at 1.1585-90.
Our Preference: – Buy at current 1.1563
Target – 1.1585
Stop loss – 1.1552
USDJPY: USDJPY formed a bear flag in hourly chart, after a steep fall the pair started consolidating in a narrow upward sloping trend channel. Intraday traders can go long for around 111.45 mark – a 50 period EMA and trend channel resistance .
Our Preference: – Buy at current 111.25
Target – 111.45
Stop loss – 111.15
GBPUSD: The has already entered in a oversold zone – as RSI(14) has reached below 30 mark in hourly chart. The price action is likely to form a candlestick reversal too for attempting the immediate resistance at (1.2993).
Our Preference: – Buy at current 1.2963
Target – 1.2993
Stop loss – 1.2950