Jul 11 2018

Trade Idea for the day

USDINR :- Rupee after a flat closing touched a low of 68.89 levels , currently trading above 21 day SMA on hourly charts. Momentum indicators like RSI at 55 and MACD likely crossover above zero line indicating to sell.

Our Preference:-  Sell above 68.85

Target – 68.60-68.65

Stop loss – 68.95

EURINR: – Pair is seen taking resistance around the blue horizontal line on top, currently trading around 21 day SMA on hourly charts. Momentum indicators are neutral with RSI at 52 and MACD just above zero line.

Our Preference: – Sell above 80.70

Target – 80.40-80.50

Stop loss – 80.81

GBPINR: – Pair moved higher after recovery in GBP cross towards 1.3280, currently trading above 21 Day SMA on hourly charts. Momentum indicators like RSI at 58 indicating to sell and MACD above zero line giving sell signals.

Our Preference: – Sell above 91.35

Target – 91.00-91.05

Stop loss – 91.45

JPYINR: – The pair moved higher after JPY cross fell from recent high’s to touch 111 level, currently trading below 21 day SMA on hourly charts. Momentum indicators with MACD above zero line giving sell signals and RSI at 51 is neutral.

Our Preference: – Sell above 0.6200

Target – 0.6180-0.6190

Stop loss – 0.6211