May 08 2018

Trade Idea for the day

EURUSD: – Trading below 21 day SMA on hourly charts. Technically RSI indicating to buy with MACD below zero line giving buy signals.

Our Preference: – Buy around 1.1910

Target – 1.1935-1.1940

Stop loss – 1.1895

GBPUSD: – The pair has fallen sharply on hourly charts, currently trading below 5 day SMA. RSI towards oversold territory and MACD around zero line giving buying signals.

Preference: – Buy around 1.3500

Target – 1.3530-1.3535

Stop loss – 1.3487

USDJPY: – Pair is trading around 21 day SMA, dollar strength in the market can take the pair higher. Technically RSI indicating a buy and MACD likely crossover below zero line giving buy signals.

Our Preference: – Buy around 108.90

Target – 109.15-109.20

Stop loss – 108.78