Aug 28 2018

Trade idea for the day

EURUSD: Bearish divergence in RSI (14) is clearly visible on the hourly chart of EURUSD, signalling limited intraday upside for the pair.

Our Preference: – Sell at 1.1690

Target –1.1650

Stop loss – 1.1710

USDJPY: The pair is trading below 50 period Exponential Moving Average with a MACD and Signal line bearish crossover. RSI (14 period) is also gone below 50 mark – indicating bears strength over bulls.

Our Preference: – Sell at 111.10

Target – 110.75

Stop loss – 111.25

GBPUSD: The pair has given a upside breakout to its symmetric triangle range on a hourly chart. MACD is giving a bullish crossover with signal line.

Our Preference: – Buy at 1.2900

Target –1.2935

Stop loss – 1.2885