EURUSD: – Euro cross seen not sustaining below 1.17 levels, having recovered from below 1.17 pair is likely to move higher. MACD below the zero line and RSI indicating buying momentum.
Our Preference: – Buy around 1.1700
Target – 1.1740-1.1745
Stop loss – 1.1687
GBPUSD: – Pair is seen converging within the upside trend line resistance and the support trend line, consolidating around 1.3660-1.3670 levels on hourly charts. Break of resistance line will take the pair higher towards 1.34, RSI indicating to buy with MACD around zero line giving buying signal.
Preference: – Buy around 1.3360
Target – 1.3390-1.3400
Stop loss – 1.3340
USDJPY: -Recovered from lows of around 109, pair trading below 5 day SMA now. MACD below zero line and RSI indicating upside momentum in the pair.
Our Preference: – Buy around 109.40
Target – 109.70-109.75
Stop loss – 109.25