Jun 15 2018

Trade Idea for the day

EURUSD: – Euro fell sharply after the ECB policy outcome, currently above 14 day SMA on hourly charts. Momentum indicators like RSI at 36 indicating to buy with MACD crossover below zero line giving buy signals.

Our Preference: – Buy Below 1.1600

Target – 1.1630-1.1640

Stop loss – 1.1585

GBPUSD: – Dollar gain after the ECB meeting outcome resulted in fall in GBP, trading above 14 day SMA. Momentum indicators like RSI at 43 is indicating to buy with MACD crossover below zero line giving buy signals.

Preference: – Buy below 1.3270

Target – 1.3300-1.3310

Stop loss – 1.3255

USDJPY: – Likely to take resistance around the current levels and head lower. Technical indicators like RSI at 55 indicating to sell and MACD crossover above zero line giving sell signals.

Our Preference: – Sell above 110.65

Target – 110.30-110.40

Stop loss – 110.81