Jun 22 2018

Trade Idea for the day

EURUSD: Pair recovered from recent lows towards 1.15 is trading above 1.16 levels, above 21 day SMA on hourly charts now.  Momentum indicators like RSI at 56 and MACD likely crossover above zero line giving buy signals.

Our Preference: – Sell above 1.1615

Target – 1.1580-1.1590

Stop loss – 1.1625

GBPUSD: – Pair recovered from 7 month lows of around 1.31 after the BOE policy outcome, currently above 21 day SMA on hourly charts. Momentum indicators with RSI at 62 indicating to sell and MACD above zero line giving buying signals.

Preference: – Sell above 1.3260

Target – 1.3210-1.3220

Stop loss – 1.3275

USDJPY: – Pair has found resistance around 110.75 levels, currently trading below 21 day SMA on hourly charts. Technical indicators like RSI at 45 and MACD crossover below zero line giving buy signals.

Our Preference: – Buy below 109.95

Target – 110.30-110.40

Stop loss – 109.83