May 17 2018

Trade Idea for the day

EURUSD: – Pair recovered from 2018 lows above 1.18 now, currently trading above 14 day SMA on hourly charts. Momentum indicators like RSI indicating to buy with MACD below zero line giving buy signals.

Our Preference: – Buy below 1.1820

Target – 1.1850-1.1860

Stop loss – 1.1800

GBPUSD: – Recovered from below 1.35 levels, currently trading above 14 day SMA on hourly charts. Technical indicators like MACD above zero line and RSI is giving buy signals.

Preference: – Sell above 1.3550

Target – 1.3510-1.3520

Stop loss – 1.3562

USDJPY: – Pair is hovering around near term high’s, currently trading around 14 day SMA now. MACD crossover above zero line and RSI giving sell signals in the pair.

Our Preference: – Sell above 110.30

Target – 109.90-110.00

Stop loss – 110.45