Apr 23 2018

Trade Idea for the day

EURUSD: – Sharp decline on hourly charts seen taking support at around 1.22 level. RSI in oversold territory and MACD below zero line giving buy signals.

Our Preference: – Buy at 1.2220

Target – 1.2270-1.2275

Stop loss – 1.22

GBPUSD: – RSI in oversold territory with MACD below zero line, trading well below 21 Day SMA pair can be bought with targets of around 21 day SMA.

 Preference: – Buy below 1.3960

Target – 1.40-1.4010

Stop loss – 1.3940

USDJPY: – On daily charts pair is trading well above 21 Day SMA, seen taking resistance at around 108.405 levels. RSI is overbought indicating to sell and MACD above zero line giving sell signals in the pair.

Our Preference: – Sell at  108.20-108.25

Target – 107.90-107.95

Stop loss – 108.42