Jun 12 2018

Trade Idea for the day

EURUSD: – Seen consolidating at current levels after facing resistance around 1.18 levels, currently below 21 day SMA on hourly charts. Momentum indicators like RSI at 42 indicating to buy with MACD below zero line giving buy signals.

Our Preference: – Buy Below 1.1755

Target – 1.1780-1.1790

Stop loss – 1.1743

GBPUSD: – Moved higher since opening levels with sharp gain on hourly charts. Momentum indicators like RSI at 48 is neutral with MACD crossover below zero line giving buy signals.

Preference: – Buy Below 1.3370

Target – 1.34-1.3410

Stop loss – 1.33355

USDJPY: – Seen Consolidating at around current levels likely to take resistance around the horizontal blue line on top. Technical indicators like RSI at 60 and MACD crossover above zero line giving sell signals.

Our Preference: – Sell Above 110.35

Target – 109.90-110.00

Stop loss – 110.50