Intraday Trading Strategies

EURUSD is moving upwards & can rise upto 1.3515 but shall resist that level during the day & thus can be sold on rise strictly for intraday trading purpose for a target of 1.3430-20 with a protective Stop loss (SL) above 1.3560.

(Note: For medium term outlook please visit http://www.forexviewsncalls.blogspot.in/2013/01/eurusd-medium-term-outlook.html)  

GBPUSD may give a dip upto 1.5710 thus traders can sell on rise in the morning trade (IST) but it can be bought on dips upto 1.5710 for the day for a target of 1.5800 with a protective SL below 1.5660.

USDJPY can give a rise even upto 91.15 but can be sold on rise for intraday trading for a target of 90.40 with a protective SL above 91.55. 

EURUSD Medium Term Outlook

EURUSD is currently in a bullish phase but 1.3490 can act as a near term resistance. A weekly closing above this level can push it further upto 1.3830. On the downside 1.3000 can act as a good near term support & 1.2720 a good medium term support. The expected range in the medium term would be 1.2720 – 1.3830 & a break of this range will decide the future course of the pair.