Jun 22 2018

Trade Idea for the day

USDINR :- Pair gave a gap down opening of 67.81 after previous close of 67.98 levels yesterday, currently below 14 day SMA on hourly charts. Momentum indicators like RSI at 39 and MACD below zero line giving buy signals.

Our Preference:-  Buy below 67.75

Target – 67.95-68.05

Stop loss – 67.65

EURINR: – Pair has recovered from recent lows after the euro cross moved above 1.16 levels, currently trading above 21 day SMA on hourly charts. Technical indicators like RSI at 56 levels with MACD above zero line giving buying signals.

Our Preference: – Sell above 79.00

Target – 78.70-78.80

Stop loss – 79.11

GBPINR: – Pair recovered from lows of 89.30 as the pound cross moved higher  after BOE decision yesterday, currently trading above 21 Day SMA on hourly charts. Momentum indicators Like RSI at 57 and MACD above zero line giving sell signals.

Our Preference: – Sell above 90.05

Target – 89.70-89.80

Stop loss – 90.20

JPYINR: – The pair is seen taking support around 0.6150 levels and head towards the blue resistance line on top, currently below 21 day SMA on hourly charts. Momentum indicators like MACD below zero line and RSI at 43 giving buying signals.

Our Preference: – Buy at 0.6150

Target – 0.6180-0.6190

Stop loss – 0.6138