Jul 24 2018

Trade Idea for the day

EURUSD: After a steep intraday fall, EURUSD has pulled back with sharp gains – trading above 200 period Simple moving average with MACD and Signal line crossover.

Our Preference: – Buy at 1.1680

Target – 1.1705 and 1.1720

Stop loss – 1.1665

GBPUSD: The pair is attempting to test its 200-period Simple moving average which is lying at around 1.3136, along with that RSI is inching towards its overbought zone.

Our Preference: – Sell at 1.3136

Target – 1.3110

Stop loss – 1.3149

USDJPY: A Symmetric triangle is formed on a 30 minutes chart, at present the pair is trading on the lower range of this pattern. A pullback towards the resistance is expected.

Our Preference: – Buy at current market(111.14)

Target – 111.40

Stop loss – 111.01