May 29 2018

Trade Idea for the day

USDINR :- Local pair taken support below 67.50 levels after a sharp fall on daily charts, Currently trading above 14 day SMA on hourly charts. Momentum indicators like RSI towards oversold territory with MACD around zero line giving buy signals.

Our Preference:-  Sell at 67.85-67.90

Target – 67.60-67.65

Stop loss – 68.00

EURINR: – Pair moved lower after touched yesterday opening levels, curently above 21 Day SMA on hourly charts. Momentum indicators RSI indicating to buy and MACD below zero line giving buy signals.

Our Preference: – Buy below 78.60

Target – 78.80-78.85

Stop loss – 79.45