May 11 2018

Trade Idea for the day

EURUSD: – Seen taking resistance at around 1.1930 levels, currently trading around 21 day SMA on hourly charts. Technical like RSI indicating to sell and MACD crossover above zero line giving sell signals.

Our Preference: – Sell around 1.1920

Target – 1.1870-1.1880

Stop loss – 1.1935

GBPUSD: – Pair is seen taking support at around 1.35 or below levels, currently trading below 5 day SMA. MACD crossover below zero line and RSI is giving buy signals.

Preference: – Buy around 1.3510

Target – 1.3550-1.3560

Stop loss – 1.3492

USDJPY: – Pair moved lower after touching recent high of 110, trading below 5 day SMA now. RSI indicating to buy and MACD crossover below zero giving buy signals.

Our Preference: – Buy around 109.30

Target – 109.65-109.70

Stop loss – 109.15