Aug 09 2018

Trade idea for the day

EURUSD: The pair seems to find short term trend line support is at around 1.1570-75. RSI(14) is at 38 mark and is about to reach its oversold territory.

Our Preference: – Buy at 1.1570-75

Target – 1.1600 and 1.1615

Stop loss – 1.1558

USDJPY: The pair is trading well above its previous high, and is trying to achieve the other higher mark. MACD is given a bullish crossover with signal line and RSI(14) is trading above 50 mark.

Our Preference: – Buy at 111.02

Target – 111.20 and 111.32

Stop loss – 110.92

GBPUSD: On a 30 minutes chart, RSI(14) is showing a bullish divergence with a Single candlestick reversal Hammer – indicating the prices to reverse.

Our Preference: – Buy at 1.2853

Target – 1.2875

Stop loss – 1.2839