May 28 2018

Trade Idea for the day

EURUSD: – Recovered from below 1.17 levels, currently trading above 14 day SMA. Momentum indicators Like RSI indicating to sell with MACD above zero line giving sell signals.

Our Preference: – Sell around 1.1720

Target – 1.1680-1.1685

Stop loss – 1.1735

GBPUSD: – Found support at around 1.33 levels, currently above 21 day SMA. Technical indicators like RSI indicating to buy with MACD below zero line giving buying signals.

Preference: – Buy around 1.3325

Target – 1.3350-1.3360

Stop loss – 1.3315

USDJPY: – Seen taking trend line support, likely to head higher towards the near term resistance line. Momentum indicators like MACD around zero line and RSI are neutral.

Our Preference: – Buy below 109.40

Target – 109.60-109.65

Stop loss – 109.25