Apr 16 2018

Trade Idea for the day

EURUSD: – Pair is trading above 14 Day SMA on hourly charts, seen taking resistance at current levels. RSI is neutral with MACD above zero line giving sell signals.

Our Preference: – Sell Above 1.2340

Target – 1.2305-1.2310

Stop loss – 1.2360

GBPUSD: – Pair is trading well above 14 Day SMA on hourly charts, RSI is showing bearish signals and MACD above zero line giving sell signals.

Our Preference: – Sell at 1.4265

Target – 1.4230-1.4235

Stop loss – 1.4281

USDJPY: – Pair is trading below 14 Day SMA on hourly charts, momentum indicators like RSI is heading towards oversold territory and MACD below zero line giving buy signals in the pair.

Our Preference: –   Buy below  107.20

Target – 107.45-107.50

Stop loss – 107.04