GPPUSD setting itself for a dip

GBPUSD seems to be setting itself for another dip towards 1.4810 level and test that level again. Before doing so it is taking some correction and if GBPUSD rises to something around 1.5000 level, then it will be an ideal situation for traders to sell GBPUSD for targets around 1.4810 level.

Break of 1.4810 will open up GBPUSD for an extended move towards 1.4500 level and break out traders will surely focus on that level as well.

On the upper side, break above 1.5000 level will set 1.5200 as next target for GBPUSD. We might see traders entering with decent stops and hope to capture the right move.

USDCHF taking breath before another go at 1.0700

USDCHF moved very nicely towards 1.0700 but was unable to break that level and is currently taking some breather. It seems that USDCHF will make another attempt towards 1.0730 level and if USDCHF manages to break above that level, then we will be looking at USDCHF moving towards 1.0850 level.

On the lower side, the retracement should end maximum by 1.0600 level and if the dip is extended then long term traders will look to buy USDCHF around 1.0550 level. 

EURUSD all set for a dip below 1.3500

EURUSD is in full momentum to break below 1.3500 and then target 1.3410 level during this week. Looking at the current move, there will not be many traders, especially intra-day traders that will look t buy EURUSD at the moment.

Mostly traders will look to sell, especially if EURUSD takes a bit of retracement and then set profit targets around 1.3450 level. Ideally traders will hope to sell EURUSD around 1.3600 level but the more aggressive traders might choose to sell even below that level.

If EURUSD manages to break above 1.3600 level, then we might see EURUSD once again testing 1.3800 level but keeping current scenario, we don’t see too many chances of EURUSD doing that.

EURUSD looking to target 1.3800

EURUSD broke above an important level at 1.3620 and it seems that it is currently looking to target 1.3800 level. The zone between 1.3800 and 1.3850 levels is important because once EURUSD manages to break above that zone, then we will be looking at EURUSD heading towards 1.4000 level.

The current momentum seems to be technically with buying at the moment and we might find intra-day traders focusing the same way.