Sep 05 2018

Trade idea for the day

EURUSD: The pair is trading in a downward sloping trend channel on the hourly chart. Momentum indicator RSI is neutral at 41 mark, close to its over-old territory.

Our Preference: – Sell at 1.1577

Target –1.1530

Stop loss – 1.1597

GBPUSD: The pair seems oversold on 30 minutes chart, as RSI (14 period) had gone below 30 mark – but now has started turning back. Bullish divergence is also seen in RSI.

Our Preference: – Buy at 1.2820

Target – 1.2850

Stop loss – 1.2805