EURUSD: – EURUSD trading at 2018 lows fell sharply on disappointing data released yesterday currently trading below 14 day SMA on hourly charts. Technical indicators like RSI towards oversold territory and MACD crossover below zero line giving signs of recovery in the pair.
Our Preference: – Buy below 1.1830
Target – 1.1860-1.1870
Stop loss – 1.1810
GBPUSD: – Cable trading at around 4 month lows, currently trading around 21 day SMA. Momentum indicators like MACD crossover below zero line and RSI is giving buy signals.
Preference: – Buy around 1.3500
Target – 1.3540-1.3550
Stop loss – 1.3480
USDJPY: – Pair touched a high of 110.45 last touched in feb.18, currently holding below 14 day SMA now. MACD crossover above zero line and RSI towards overbought territory giving bearish signals in the pair.
Our Preference: – Sell above 110.30
Target – 109.90-110.00
Stop loss – 110.45