Jun 28 2018

Trade Idea for the day

EURUSD: Pair is seen taking support around 1.15 levels and head higher, currently trading below 21 day SMA on hourly charts. Momentum indicators like MACD crossover below zero line and RSI at 35 is heading towards oversold zone giving buy signals.

Our Preference: – Buy below 1.1560

Target – 1.1590-1.1600

Stop loss – 1.1547

GBPUSD: – Pair is trading close to 7 month lows likely to recover from current levels, currently trading below 14 day SMA on hourly charts. Momentum indicators with RSI around 30 is around oversold zone and MACD crossover below zero line giving buy signals.

Preference: – Buy below 1.3110

Target – 1.3150-1.3160

Stop loss – 1.3090

USDJPY: – Pair is seen taking resistance around the blue downward sloping line on top, currently trading above 14 day SMA on hourly charts. Technical indicators like RSI at 57 and MACD above zero line giving sell signals.

Our Preference: – Sell above 110.30

Target – 109.95-110.00

Stop loss – 110.42