USDCHF might look to take some retrace by end of US session

USDCHF is moving nicely in an upward trend but we might see USDCHF taking a dip by the end of US session for monthly closings. Traders looking to buy USDCHF might hold back a bit and let USDCHF take a dip today before buying USDCHF for next week.

The dip might go towards 1.0430 and might even extend below 1.0400 level. Overall scenario is still very good for buying but holding back is suggested, one because of month closing and secondly the RSI value of USDHF is a bit on higher side and might look to ease a bit by taking a dip today.

EURUSD heading towards 1.4000

EURUSD seems to gradually head towards 1.4000 level and it was pushed up by a low RSI value. After take retracement it has opened up a bit and also allowed traders looking for good weekly trades to sell EURUSD at some reasonable levels for target around 1.4000 level.

Keeping current scenario in mind, we might see EURUSD stayed in range between 1.4200 and 1.4000 levels for coming few days and traders trading in between these two levels.

GBPUSD seems done with selling for the time being

GBPUSD took a sharp dip and touched its target at 1.6150 and it seems that it has completed its current downwards move and it might look for a sharp retracement towards 1.6300 level and if it manages to break that level, then GBPUSD will be targeting 1.6470 level.

On the lower side, if GBPUSD straight away resumes its downward trend then we might see GBPUSD heading to 1.6000 level and this dip might extend as much as towards 1.5800 level.

AUDUSD approaching an important level at 0.9250

AUDUSD is currently approaching an important level 0.9250. In the current scenario, this level is important to determine the trend for AUDUSD for next couple of weeks.

If we consider the short term trend, which is downward, then the move towards 0.9250 can be seen as retracement and we should expect AUDUSD to take a dip after touching 0.9250 level. So we might see traders focusing on that theory, selling AUDUSD around 0.9250 with small stops.

If we consider the long term view, then AUDUSD is resuming its upward trend after completing its retracement below 0.9200 level. The trader with this theory must already be buying AUDUSD. If AUDUSD manages to break above 0.9250 level, then the long term move will be confirmed and we might see some good buying till AUDUSD touches 0.9350 level.

For a conservative traders, it is advised to wait till AUDUSD touches 0.9250 and see how things settle out to make its move.

AUDUSD taking breather

AUDUSD seems to be taking a breather before resuming its upward trend and head back to its target at 0.9350 level. The current retracement dip is expected to go to 0.9275 level and if the retracement dip is extended, we might see AUDUSD touching 0.9200 level.

Mostly traders in current scenario will be looking to buy AUDUSD on dips to its retracement levels below 0.9300 level for a nice move towards 0.9350 level.

GBPUSD resuming its downward trend

GBPUSD is resuming its downward trend after taking a retrace above 1.6100 and  looking to head once again below 1.6000 level and towards 1.5920 level. Break of 1.5920 level will set 1.5765 as next target.

On the upper side break 1.6100 level will set 1.6300 as next target for traders. Aggressive traders will look to initially sell GBPUSD around 1.6070 level. Conservative traders will like to hold back a bit and let GBPUSD settle in a direction before entering the market.

AUDUSD heading towards 0.9275

AUDUSD is moving nicely in an upward trend towards 0.9275 and currently it is taking due retrace and traders will have a lots of buying opportunities on dips around current levels. The first buying level traders will focus is 0.9175 and intra-day traders will certainly like to cash on this opportunity.

If the retracement is extended below 0.9150 level, then next buying level in focus will be around 0.9110 level and aggressive traders might enter both levels to average out both trades.

0.9110 is an important level, as break below that level will confirm downward trend and traders will then start selling AUDUSD for both large and small targets.

GBPUSD taking retrace after touching its weekly target

GBPUSD seems currently taking retracement after touching its weekly target at 1.6235 level and we might see initial dip towards 1.6100 level. In weekly charts, the possibility of downward trend but in daily charts GBPUSD is setting itself nicely for an upward move towards 1.6400 level.

On the upper side, the first major resistance is seen just around 1.6240 level and we might see Intra-day traders concentrating on buying GBPUSD around 1.6100 level for 1.6300. On the lower side break of 1.6100 level will lead GBPUSD below 1.6000 level.