Aug 27 2018

Trade idea for the day

USDINR: The pair is trading well below 50 period EMA and currently USDINR is trying to re-test the moving average resistance, which is at around 69.97.

Our Preference: – Sell at 69.95.98

Target – 69.70

Stop loss – 70.02

EURINR: The pair rises vertically after getting the support of 50-period EMA and a upward sloping trend-line at around 81.10 levels. At present there is a resistance at 81.40-45 mark.

Our Preference: – Sell at 81.40-45

Target – 81.15

Stop loss – 81.60

GBPINR: There is a downward sloping trend channel has formed on a hourly chart. The pair is currently trading at its resistance zone, 14 period RSI is neutral at 50 mark.

Our Preference: – Sell at 89.90

Target – 89.65

Stop loss – 90.03