Jun 13 2018

Trade Idea for the day

EURUSD: – Seen consolidating around current levels, currently trading below 21 day SMA on hourly charts. Momentum indicators like RSI at 40 indicating to buy with MACD below zero line giving buy signals.

Our Preference: – Buy Below 1.1740

Target – 1.1770-1.1780

Stop loss – 1.1725

GBPUSD: – Moved lower since the opening level, currently trading below 14 day SMA on hourly charts. Momentum indicators like RSI at 41 is indicating to buy with MACD below zero line giving buy signals.

Preference: – Buy Below 1.3335

Target – 1.3370-1.3380

Stop loss – 1.3325

USDJPY: – Seen taking resistance at around current levels, likely to head lower. Technical indicators like RSI at 60 giving selling signals and MACD crossover above zero line giving sell signals.

Our Preference: – Sell Above 110.60

Target – 110.20-110.30

Stop loss – 110.75