Jul 11 2018

Trade Idea for the day

EURUSD: Pair is holding the upward sloping blue trendline support and head higher, currently trading close to 14 day SMA on hourly charts. Momentum indicators like MACD below zero line and RSI at 45 is giving buy signals.

Our Preference: – Buy below 1.1730

Target – 1.1750-1.1760

Stop loss – 1.1720

GBPUSD: – Pair is seen consolidating around the currently levels waiting for fresh cues in the market, currently trading just below 14 day SMA on hourly charts. Momentum indicators are neutral with RSI at 48 and MACD around zero line.

Preference: – Buy below 1.3255

Target – 1.3275-1.3285

Stop loss – 1.3243

USDJPY: – Pair took resistance around 111.35 levels after touching recent high, currently below 21 day SMA on hourly charts. Technical indicators are neutral with RSI at 52 and MACD around zero line.

Our Preference: – Sell above 111.10

Target – 110.80-110.90

Stop loss – 111.27