Jul 19 2018

Trade Idea for the day

EURUSD: Pair took support around 1.16 levels yesterday and resumed upside likely to head higher, currently trading above 21 day SMA on hourly charts. Momentum indicators like MACD below zero line indicating to buy while RSI at 53 is neutral.

Our Preference: – Buy below 1.1650

Target – 1.1680-1.1690

Stop loss – 1.1637

GBPUSD: – Pair recovered from the losses yesterday after taking support around the horizontal blue line seen consolidating around current levels, currently trading above 21 day SMA on hourly charts. Momentum indicators like RSI at 46 with MACD below zero line giving buy signals.

Preference: – Buy below 1.3075

Target – 1.3110-1.3120

Stop loss – 1.3060

USDJPY: – Pair took resistance yesterday above 113 levels seen taking support around the horizontal blue line and head higher, currently below 21 day SMA on hourly charts. Technical indicators like RSI at 45 and MACD around zero line giving buy signals.

Our Preference: – Buy below 112.75

Target – 112.95-113.05

Stop loss – 112.64