May 09 2018

Trade Idea for the day

EURUSD: – On daily charts pair is trading below its lowest levels in 2018, currently below 21 day SMA on hourly charts. Momentum indicators like RSI heading towards oversold territory and MACD crossover below zero line giving buy signals.

Our Preference: – Buy around 1.1850

Target – 1.1880-1.1890

Stop loss – 1.1837

USDJPY: – The pair has moved higher towards recent high levels, trading well above 14 day SMA now. RSI towards oversold territory and MACD above zero giving sell signals.

Our Preference: – Sell at 109.75-109.80

Target – 109.45-109.50

Stop loss – 109.95

GBPUSD: – Seen holding at around 1.35, currently holding around 21 day SMA. RSI is neutral with MACD crossover below zero line giving buy signals.

Preference: – Buy around 1.3520

Target – 1.3550-1.3555

Stop loss – 1.3500