Trade Idea for the day

17 Jul 2018 10:13 AM
 
EURUSD: Pair recovered from recent lows below 1.1650 levels and moved higher likely to take resistance around current levels before heading higher, currently trading above 21 day SMA on hourly charts. Momentum indicators like MACD above zero line and RSI at 63 is heading towards overbought zone giving sell signals. Our Preference: - Sell above 1.1720 Target – 1.1680-1.1690 Stop loss – 1.1735 GBPUSD: - Pair moved higher yesterday and took resistance above 1.3250 levels moved higher after recent consolidation, currently trading above 14 day SMA on hourly charts. Momentum indicators like RSI at 57 indicating to sell with MACD above zero line giving sell signals. Preference: - Sell above 1.3250 Target – 1.3210-1.3220 Stop loss – 1.3263 USDJPY: - Pair likely to take resistance around horizontal blue line on top and head lower towards 112 levels. Technical indicators are neutral with RSI at 54 and MACD around zero line. Our Preference: - Sell Above 112.45 Target – 112.15-112.20 Stop loss – 112.57