May 03 2018

Trade Idea for the day

EURUSD: – On hourly charts pair has moved above 21 day SMA, seen taking support at 1.1950 levels. RSI is indicating buy and MACD crossover below zero line giving buy signal.

Our Preference: – Buy around 1.1980

Target – 1.2020-1.2030

Stop loss – 1.1960

GBPUSD: – Pair is trading above yesterday’s opening levels currently above 14 day SMA. Technically RSI indicating to buy with MACD below zero line showing bullish signs.

 Preference: – Buy below 1.3610

Target – 1.3650-1.3655

Stop loss – 1.3585

USDJPY: – Seen taking support at around 109.50 levels currently trading below 21 day SMA. RSI heading towards oversold territory with MACD below zero line giving bullish signals in the pair.

Our Preference: – Buy at 109.60

Target – 109.80-109.85

Stop loss – 109.47