May 30 2018

Trade Idea for the day

EURUSD: – Touched a fresh 10 month low likely to recover from current levels, a break of resistance line will take the pair higher. Momentum indicators like MACD crossover below zero line with RSI around oversold territory giving signs of recovery.

Our Preference: – Buy around 1.1530

Target – 1.1560-1.1570

Stop loss – 1.1515

GBPUSD: – Trading around 6 month lows seen consolidating around 1.35 levels, likely to head towards resistance line. Technical like RSI indicating to buy with MACD crossover below zero line giving buying signals.

Preference: – Buy around 1.3250

Target – 1.3280-1.3285

Stop loss – 1.3237

USDJPY: – Risk off sentiment resulted in the pair touching 108.11 recovered from those levels is likely to move towards the resistance line. Momentum is on upside with MACD crossover below zero line and RSI giving buy signals.

Our Preference: – Buy below 108.60

Target – 108.90-108.95

Stop loss – 108.47