Our Preference:

-        Short positions with targets at 1.1156.

Commentary/ Reason:

-        Price has broken the 1-month resistance line but expected to not break the 3-months resistance line.

-        Stochastic oscillator reading showing an overbought range, indicating impending downward movement.

-        RSI value is that more than 70 indicating that the chart is becoming overbought or overvalued and may be primed for a trend reversal.

-        EURUSD has reached a key resistance area, hence expect reversal of bearish downtrend.



Our Preference:

-        Long positions above 0.9611, with target at 0.9631 and extension at 0.9648.

Commentary/ Reason:

-        Stochastic oscillator reading showing an oversold range, indicating an upward movement.

-        The pair is trading above its 200 and 50 Moving Averages.

-        Current retracement is completed, and chart is going into upward movement.



Our Preference:

-        Long positions, with target at 1.27.

-        There is a possibility of temporary retracement, however, it is expected to still be within the parallel channel trend.

Commentary/ Reason:

-        GBPUSD is still moving along the boundary of a rising parallel channel, and still in bullish uptrend.

-        The MACD is trading above its signal line and positive. The configuration is positive.