Jun 29 2018

Trade Idea for the day

EURUSD: Recovered from recent lows below 1.1550 after the weaker than expected US GDP data, currently trading well above 21 day SMA on hourly charts. Momentum indicators like MACD around zero line is neutral with RSI at 59 indicating to sell.

Our Preference: – Sell above 1.1630

Target – 1.1585-1.1595

Stop loss – 1.1645

GBPUSD: – After touching 7 month lows pair found support around 1.3050-1.31 levels and recovered, currently trading above 21 day SMA on hourly charts. Momentum indicators with RSI at 49 is neutral and MACD below zero line giving buy signals.

Preference: – Buy at 1.31050-1.3110

Target – 1.3150-1.3160

Stop loss – 1.3087

USDJPY: – Pair is following the upward sloping trendline is seen taking resistance  around current levels and head towards the trendline support, currently trading above 14 day SMA on hourly charts. Technical indicators like RSI at 62 and MACD above zero line giving sell signals.

Our Preference: – Sell above 110.70

Target – 110.35-110.40

Stop loss – 110.85