May 04 2018

Trade Idea for the day

EURUSD: – Pair seen consolidating at current levels trading above 21 day SMA now. RSI is neutral and MACD around zero line, pair can be bought at current levels.

Our Preference: – Buy around 1.1980

Target – 1.2020-1.2030

Stop loss – 1.1960

GBPUSD: – Trading below 14 day SMA, can be bought at current levels. Technically RSI indicating to buy with MACD below zero line giving buying signals.

 Preference: – Buy around 1.3560

Target – 1.3590-1.3600

Stop loss – 1.3545

USDJPY: – RSI towards oversold territory and MACD crossover below zero line giving bullish signals in the pair, currently below 21 day SMA pair can be bought at current levels.

Our Preference: – Buy at 109

Target – 109.30-109.35

Stop loss – 108.85