Jun 05 2018

Trade Idea for the day

USDINR :- Rupee fell to form a low of 67.22 levels from opening levels of 67.07, currently above 14 day SMA on hourly charts. Technical indicators like RSI around 50 with MACD around zero line are neutral.

Our Preference:-  Buy below 67.10

Target – 67.25-67.30

Stop loss – 66.97

EURINR: – Pair seen taking resistance around the downward slopping blue line, currently trading above 14 Day SMA on hourly charts. Momentum indicators are neutral with RSI just above 50 and MACD just below zero line.

Our Preference: – Sell at 78.55

Target – 78.35-78.40

Stop loss – 78.65

GBPINR: – Pair has made higher highs on hourly charts, currently above 14 day SMA. Momentum indicators Like MACD crossover below zero line is giving buying signals with RSI around 50 is neutral.

Our Preference: – Buy below 89.40

Target – 89.60-89.65

Stop loss – 89.30

JPYINR: – Pair seen holding to 61 levels has formed support around the same level, currently consolidating just above 14 day SMA on hourly charts. Momentum indicators like MACD below zero line and RSI is giving buying signals.

Our Preference: – Buy below 0.6100

Target – 0.6135-0.6140

Stop loss – 0.6095