Jun 28 2018

Trade Idea for the day

USDINR :- Rupee opened at all time low of 68.89 and touched a low of 69.09, currently trading well above 14 day SMA on hourly charts. Momentum indicators like RSI at 64 and MACD above zero line giving sell signals.

Our Preference:-  Sell above 69.00

Target – 68.75-68.80

Stop loss – 69.13

EURINR: – Pair is seen consolidating in a narrow range can take support around current levels and head towards the upside resistance. Technical indicators are neutral with RSI at 47 levels and MACD around zero line.

Our Preference: – Buy below 79.55

Target – 79.75-79.80

Stop loss – 79.42

GBPINR: – Pair down from the opening levels of 90.32 after GBPUSD moved lower below below 1.31 levels, currently trading above 14 Day SMA on hourly charts. Momentum indicators are neutral with RSI at 48 and MACD around zero line.

Our Preference: – Buy below 90.15

Target – 90.35-90.40

Stop loss – 90.03

JPYINR: – The pair has taken resistance at around 0.6270 levels, currently trading below 14 day SMA on hourly charts. Momentum indicators like MACD crossover above zero line and RSI at 54 giving sell signals.

Our Preference: – Sell above 0.6250

Target – 0.6220-0.6230

Stop loss – 0.6265