Jul 06 2018

Trade Idea for the day

EURUSD: Pair took resistance above 1.17 levels which is likely to be key resistance level, currently trading around 21 day SMA on hourly charts can be sold above the same. Momentum indicators like MACD above zero line and RSI at 55 is indicating to sell.

Our Preference: – Sell above 1.1695

Target – 1.1660-1.1670

Stop loss – 1.1710

GBPUSD: – Pair is seen holding on the trendline support and head higher towards the 1.3250 mark. Momentum indicators are neutral with RSI at 51 and MACD just below zero line.

Preference: – Buy below 1.3215

Target – 1.3250-1.3160

Stop loss – 1.3200

USDJPY: – Pair is seen taking resistance around 110.80 levels and head towards 110 mark, currently trading below 14 day SMA on hourly charts. Technical indicators like RSI at 49 is neutral and MACD above zero line giving sell signals.

Our Preference: – Sell above 110.60

Target – 110.35-110.45

Stop loss – 110.74