Jun 07 2018

Trade Idea for the day

USDINR :- Rupee after opening flat today fell to a low of 67.14 levels, trading above 14 day SMA on hourly charts. Momentum indicators like RSI around 50 is neutral with MACD crossover below zero line giving buy signals.

Our Preference:-  Buy below 67.00

Target – 67.20-67.25

Stop loss – 66.90

EURINR: – Euro cross moved above 1.18 taking the pair higher to a high of 79.36, curently trading above 14 Day SMA on hourly charts. Momentum indicators RSI around overbought territory and MACD above zero line giving sell signals.

Our Preference: – Sell at 79.30

Target – 78.95-79.00

Stop loss – 79.40

GBPINR: – Pair moved higher after a sharp recovery in GBPUSD, currently above 14 day SMA. Momentum indicators Like MACD above zero line with RSI around 63 giving sell signals.

Our Preference: – Buy below 90.25

Target – 89.95-90.00

Stop loss – 90.36