May 10 2018

Trade Idea for the day

EURUSD: – On daily charts pair has shown recovery, currently trading around 21 day SMA on hourly charts. Momentum indicators like RSI indicating to buy and MACD below zero line giving buy signals.

Our Preference: – Buy around 1.1850

Target – 1.1880-1.1890

Stop loss – 1.1837

GBPUSD: – Pair is seen recovering ahead of BOE monetary policy, currently holding around 14 day SMA. MACD below zero line indicating to buy and RSI is neutral.

Preference: – Buy below 1.3560

Target – 1.3590-1.3595

Stop loss – 1.3540

USDJPY: – The pair moved to its highest levels in last 2 months, above 14 day SMA now. RSI indicating to sell and MACD above zero giving sell signals.

Our Preference: – Sell around 110

Target – 109.65-109.70

Stop loss – 110.15