Jul 27 2018

Trade Idea for the Day

USDINR: Neckline support of the Double top pattern breaks down by the pair, which actually opens the door for 68.30.35 region. RSI is close to the oversold zone currently at 34 mark.

Our Preference: – Sell at 68.59

Target – 68.35 and 68.30

Stop loss – 68.72

EURINR: The pair pulled back after getting support from the symmetric triangle lower range. RSI(14 Period) also turned back.

Our Preference: – Buy at current 79.95

Target – 80.25

Stop loss – 79.82

GBPINR: GBPINR started consolidating after getting oversold in a hourly chart. Positive divergence in RSI(14 Period) is clearly visible with MACD and Signal line bullish crossover.

Our Preference: – Buy above 90.00

Target – 90.35

Stop loss – 89.90

JPYINR: The pair re-tested the support converted resisatance zone in which it formed a candlestick reversal at the top of its immediate resistance.

Our Preference: – Sell at current 0.6186

Target – 0.6170

Stop loss – 0.6194