Aug 23 2018

Trade idea for the day

EURUSD: Hourly chart is indicating the pair about a counter rally for yesterday’s fall. The pair has find its intraday support at 50 period EMA and along with that slow stochastic turned back with a bullish crossover in oversold territory.

Our Preference: – Buy at 1.1561

Target – 1.1600

Stop loss – 1.1540

GBPUSD: Intraday view in sterling is bearish as a trend line resistance is seen at levels around 1.2890. At the same levels 50 period EMA is also resisting.

Our Preference: – Sell at 1.2890

Target – 1.2855

Stop loss – 1.2905