Aug 27 2018

Trade idea for the day

EURUSD: The pair seems to take support on 50 period EMA. EURUSD turned back after taking the support on 50 period EMA and along with that RSI 14 period has also crossed the 50 mark.

Our Preference: – Buy at 1.1616

Target – 1.1650

Stop loss – 1.1592

GBPUSD: The pair is trading well below 50 period Exponential Moving Average, which seems to be a immediate resistance at present. RSI has gone below 50 mark – indicating bear strength.

Our Preference: – Sell at 1.2840

Target – 1.2800

Stop loss – 1.2860