Jul 31 2018

Trade Idea for the Day

EURUSD: The pair is inching towards its trend line resistance formed on a hourly chart, and along with that RSI(14) is indicating the pair is oversold and will reverse soon.

Our Preference: – Sell at 1.1737

Target – 1.1717 and 1.1702

Stop loss – 1.1748

GBPUSD: GBPUSD is presently seen trading in a short term uptrend channel on hourly chart, in which the pair is close to its resistance and along with that the currency pair is trying to test oversold territory.

Our Preference: – Sell at 1.3170

Target – 1.3139

Stop loss – 1.3185