Jun 20 2018

Trade Idea for the day

EURUSD: – Pair has found support around 1.1550 levels and seen consolidating around the same likely to head towards the 1.16 mark. Momentum indicators like RSI at 44 is indicating to buy with MACD below zero line giving buy signals.

Our Preference: – Buy Below 1.1570

Target – 1.1600-1.1610

Stop loss – 1.1555

GBPUSD: – Pair is seen consolidating in a narrow range on hourly charts likely to take support around the blue line. Momentum indicators with RSI at 32 and MACD crossover below zero line giving strong buying signals.

Preference: – Buy below 1.3160

Target – 1.3190-1.3200

Stop loss – 1.3147

USDJPY: – Recovered from recent lows of around 109.50, currently trading above 21 day SMA on hourly charts. Technical indicators like RSI at 53 and MACD around zero line are neutral.

Our Preference: – Sell above 110.20

Target – 109.80-109.90

Stop loss – 110.32