Jun 14 2018

Trade Idea for the day

EURUSD: – Pair moved higher after the Fed. Outcome and on back of ECB meet due later today, currently above 14 day SMA on hourly charts. Momentum indicators like RSI at 64 indicating to sell with MACD above zero line giving sell signals.

Our Preference: – Buy Below 1.1820

Target – 1.1780-1.1790

Stop loss – 1.1835

GBPUSD: – Gained sharply on hourly charts after the positive retail sales data, trading well above 14 day SMA. Momentum indicators like RSI at 66 is indicating to sell with MACD above zero line giving sell signals.

Preference: – Sell Above 1.3440

Target – 1.34-1.3410

Stop loss – 1.3455

USDJPY: – Found resistance around the horizontal blue line on top yesterday, seen consolidating on hourly charts at current levels. Technical indicators like RSI at 36 indicating to buy and MACD below zero line giving buy signals.

Our Preference: – Buy around 109.95

Target – 110.30-110.35

Stop loss – 109.80