Apr 27 2018

Trade Idea for the day

EURUSD: – Pair is lower after yesterday’s ECB monetary policy meet currently trading below 21 day SMA. RSI is towards oversold territory indicating a buy and MACD crossover below zero line seen supporting the view.

Our Preference: – Buy at 1.2110-1.2115

Target – 1.2150-1.2155

Stop loss – 1.2090

GBPUSD: – A sharp fall in the pair on hourly charts currently trading well below 21 day SMA. RSI Heading towards oversold territory with MACD below zero line showing signs of recovery in the pair.

 Preference: – Buy below 1.3880

Target – 1.3910-1.3915

Stop loss – 1.3860

 

USDJPY: – Trading in a narrow range since last few sessions currently holding above 21 day SMA. RSI is neutral with MACD around zero line giving bearish signals in the pair.

Our Preference: – Sell at  109.35-109.40

Target – 109.05-109.10

Stop loss – 109.62