GBPUSD setting itself for a dip
Trade:
GBPUSD with low RSI
GBPUSD is looking to take dip below 1.5900 level and looking to head towards 1.5765 level but the low RSI value is pushing GBPUSD upwards and we might see GBPUSD rising above 1.6000 to open up some space.
Currently traders will look to sell GBPUSD for anything above 1.6000 level and initial targets will not be less than 1.5900 level.
Trade:
Sell GBPUSD @ 1.6045 with Stop @ 1.6135 and Profit Target @ 1.5900
EURUSD
We might also see EURUSD trading sideways, one due to low RSI and secondly due to holidays and we might see low trading volume.
Trade:
Sell EURUSD @ 1.4381 with Stop @ 1.4465 and Take Profit @ 1.4200
NZDUSD taking retrace
NZDUSD seems to be taking retrace after touching its target at 0.7100 level. Currently it seems that it might head towards 0.7158 to complete its retracement but that retracement can further extend towards 0.7210 level.
These will be the two levels traders will be aiming to sell NZDUSD again for a target around 0.7080 level. RSI is around 40 and seems to be pretty good for selling of NZDUSD for target of 0.7080 level.
Recommended Trade:
Sell NZDUSD @ 0.7158 with Stop @ 0.7240 and Take Profit @ 0.7080
EURUSD taking retrace towards 1.4600
EURUSD
EURUSD is currently taking some retrace towards its 1.4600 level. And 1.4600 seems a very good level for selling and we might see EURUSD resuming its downwards trend from 1.4600 level. RSI is a bit on the lower side around 34 and that is the reason EURUSD is being pushed up but after retracement towards 1.4600 level, RSI will also open up considerably and will have enough space for EURUSD to make a move towards 1.4500 level.
Trade:
Sell EURUSD @ 1.4600 with Stop @ 1.4655 and Take Profit @ 1.4500
