Jul 12 2018

Trade Idea for the day

USDINR :- Rupee after a flat closing touched a high of 68.53 levels, currently trading below 14 day SMA on hourly charts. Momentum indicators like RSI at 28 and MACD below zero line giving buying signals.

Our Preference:-  Buy below 68.55

Target – 68.70-68.75

Stop loss – 68.44

EURINR: – Pair is down since the opening levels of 80.25 after local pair fell towards 68.50, currently trading below 14 day SMA on hourly charts. Momentum indicators like RSI at 29 is in oversold zone and MACD below zero line giving buy signals.

Our Preference: – Buy below 80.10

Target – 80.40-80.50

Stop loss – 79.98

GBPINR: – Pair moved lower after rupee touched a level of 68.52 is seen consolidating around current levels, currently trading above 21 Day SMA on hourly charts. Momentum indicators like RSI at 33 is around oversold zone and MACD below zero line giving buy signals.

Our Preference: – Buy below 90.60

Target – 90.80-90.90

Stop loss – 90.48

JPYINR: – The pair moved lower after JPY cross touched 7 month and rupee gained to touch 68.52 levels, currently trading below 21 day SMA on hourly charts. Momentum indicators with MACD below zero line and RSI at 19 is in oversold zone giving buy signals.

Our Preference: – Buy below 0.6100

Target – 0.6130-0.6140

Stop loss – 0.6087