Jun 05 2018

Trade Idea for the day

EURUSD: – Pair found resistance at around 1.1740 levels seen consolidating on hourly charts. Technical indicators like RSI at 50 is neutral with MACD above zero line giving sell signals.

Our Preference: – Sell Above 1.1690

Target – 1.1665-1.1670

Stop loss – 1.1710

GBPUSD: – After facing resistance towards 1.34 levels pair is consolidating above 1.33 levels, currently trading below 21 day SMA. Momentum indicators MACD above zero line and RSI heading towards overbought territory giving sell signals.

Preference: – Buy Below 1.3310

Target – 1.3330-1.3340

Stop loss – 1.3297

USDJPY: – Pair seen taking resistance at around 110 levels consolidating around current levels, trading above 21 day SMA on hourly charts. Technical indicators like MACD crossover above zero line and RSI around 60 giving sell signals.

Our Preference: – Sell above 109.90

Target – 109.50-109.60

Stop loss – 110.10