Jul 09 2018

Trade Idea for the day

EURUSD: Pair above 1.1750 levels after the latest release of US NFP is trading close to 3 week high, currently trading above 21 day SMA on  hourly charts. Momentum indicators like MACD above zero line and RSI at 66 is indicating to sell.

  Our Preference: – Sell above 1.1765

Target – 1.1725-1.1735

Stop loss – 1.1780

GBPUSD: – Pair is trading close to 3 week high after week NFP data seen taking resistance around the blue horizontal line on top, currently above 21 day SMA on hourly charts. Momentum indicators are neutral with RSI at 61 and MACD crossover above zero line giving sell signals.

Preference: – Sell above 1.33

Target – 1.3260-1.3170

Stop loss – 1.3217

USDJPY: – Pair is seen taking support around the blue horizontal line at 110.28 levels, currently trading around 14 day SMA on hourly charts. Technical indicators like RSI at 45 and MACD crossover below zero line giving buy signals.

Our Preference: – Buy below 110.40

Target – 110.60-110.70

Stop loss – 110.28