EURUSD looking to break above 1.2400

EURUSD is moving in a gradual upward trend and currently looking to target 1.2450 level. Once EURUSD manages to break above 1.2500 level, then we will be looking around 1.3000 level. We might also see a retracement dip by EURUSD from 1.2450 level towards 1.2350 level.

Mostly Traders will look to trade between 1.2350 and 1.2450 levels. Long Term Traders might also be interested in buying EURUSD on retracement dips.

USDJPY caught in sideways trend.

USDJPY is caught in sideways trend and range between 92.40 and 91.00 seems to come into play during this week. Traders will look to trade between those two levels along with small stops.

Once USDJPY manages to break out of that range we might see some traders looking to trade USDJPY with the break. On upper side, break will lead USDJPY towards 94.00 level while on the lower side break will take USDJPY towards 89.00 level.

 

USDCHF seems to head back towards 1.1700

USDCHF after being traded in sideways range for couple of weeks now seems to be looking back to resume its upward trend towards 1.1700 level. Break above 1.1700 level will open up 1.2000 level as next target.

On the lower side, break of 1.1500 level will confirm the reversal of trend and break traders will look to sell USDCHF. Mostly traders will look to buy around 1.1550 level with stops and reversal entry around 1.1500 level.