Jul 25 2018

Trade Idea for the Day

USDINR: On a 30 minutes chart the pair seem to be bottomed out at current levels, as Slow Stochastic is below 20 mark and along with that the price action has formed a single candlestick reversal.

Our Preference: – Buy at current 68.81

Target – 68.91

Stop loss – 68.77

GBPINR: The pair GBPINR is likely to find the short term support on a hourly chart at 50 period Exponential Moving average, which stood at 90.40 mark.

Our Preference: – Buy at current 90.40

Target – 90.63 and 90.70

Stop loss – 90.27

EURINR: EURINR found struggling between the range of moving averages on a hourly chart. Resistance of 50-period exponential is at 80.51 and support of 200 period average stood at 80.21

Our Preference: – Sell at 80.45

Target – 80.23

Stop loss – 80.56