May 30 2018

Trade Idea for the day

USDINR :- After giving a flat opening today rupee fell to below yesterday’s lows, currently trading well below 14 day SMA on hourly charts. Technical indicators like RSI near oversold territory with MACD around zero line giving buy signals.

Our Preference:-  Buy below 67.60

Target – 67.80-67.85

Stop loss – 67.47

EURINR: – Trading in a range bound manner since opening, curently below 21 Day SMA on hourly charts a break of same will take the pair higher. Momentum indicators like MACD below zero line  and RSI giving buy signals.

Our Preference: – Buy below 78.60

Target – 78.80-78.85

Stop loss – 79.45

GBPINR: – Fell below 90 levels yesterday down from opening levels, currently below 21 day SMA on hourly charts. Technical indicators Like MACD below zero line and RSI Towards oversold territory giving buy signals.

Our Preference: – Buy below 89.60

Target – 89.85-89.90

Stop loss – 89.45

JPYINR: – USDINR down since opening level pulled the pair lower, currently below 14 day SMA on hourly charts. Technical indicators like RSI indicating to buy with MACD around zero line giving buying signals.

Our Preference: – Buy below 0.6215

Target – 0.6160-0.6170

Stop loss – 0.6200