Jun 27 2018

Trade Idea for the day

EURUSD: After facing resistance above 1.17 levels yesterday pair seem to have found support below 1.1650 levels. Momentum indicators like MACD crossover below zero line and RSI at 46 giving buy signals.

Our Preference: –  Buy below 1.1650

Target – 1.1675-1.1685

Stop loss – 1.1640

GBPUSD: – Pair took resistance at around 1.33 levels and is likely to take support at 1.32 levels, currently trading below 21 day SMA on hourly charts. Momentum indicators with RSI at 44 and MACD crossover below zero line giving buy signals.

Preference: – Buy below 1.3220

Target – 1.3250-1.3260

Stop loss – 1.3207

USDJPY: – Pair has taken resistance above 110 levels, currently trading below 14 day SMA on hourly charts. Technical indicators like RSI at 50 is neutral and MACD crossover above zero line giving sell signals.

Our Preference: – Sell above 109.90

Target – 109.55-109.65

Stop loss – 110.05