Oct 01 2018

Trade idea for the day

EURUSD: The pair EURUSD stopped its intraday losses. In a hourly chart a short term double bottom pattern in formed, which is suggesting that EURUSD can take a corrective action. Slow Stochastic also started consolidation at oversold zone.

Our Preference: – Buy at 1.1589

Target – 1.1629

Stop loss – 1.1569

USDJPY: A bearish divergence in RSI 14 at overbought region on  a hourly chart is seen, suggesting a intraday fall in USDJPY

Our Preference: – Sell at 114.01

Target –113.65

Stop loss – 114.17

GBPUSD: The pair has given a upside breakout to the range with a strong bull candle on the hourly chart. Positive DI intersects the negative DI and has gone above to it, signalling further extension of prices.

Our Preference: – Buy at 1.3054

Target – 1.3090

Stop loss – 1.3040