USDINR: Pair is trading close to its resistance area and it seem to get some relief after yesterday’s sharp fall. Slow stochastic is above 80 mark and is about to give a bearish crossover.
Our Preference: – Sell at 68.74
Target – 68.58
Stop loss – 68.82
GBPINR: A sign of recovery or pull back for intraday is seen on the hourly chart as RSI(14) manages to trade above 50 and MACD and Signal line has given a bullish crossover below its zero-line.
Our Preference: – Buy at 89.46
Target – 89.75
Stop loss – 89.30
EURINR: A positive divergence with a bullish crossover is seen in MACD and RSI (14period) indicator on a hourly chart. Indicating the prices to move higher. Immediate resistance for the same seen at around 79.97 mark.
Our Preference: – Buy at 79.67
Target – 79.97
Stop loss – 79.52
JPYINR: The pair seems struggling between the trap of Moving Averages on a hourly chart. 50-period EMA is giving support at 0.6142 while the 200-period SMA resistance is hanging up at 0.6167 level. We believe to short the pair once it reaches the 200-period resistance.
Our Preference: – Sell at 0.6166
Target – 0.6145
Stop loss – 0.6176