Aug 30 2018

Trade idea for the day

USDINR: The pair is trading in a complete overbought situation. RSI (14 period) is hovering above 70 mark in a hourly chart, indicating the prices to reverse .

Our Preference: – Sell at 70.75-80

Target – 70.60 and 70.40

Stop loss – 70.86

EURINR: The pair is trading close to its uptrend line resistance, a negative divergence in RSI is also witnessing the pair to come down a bit.

Our Preference: – Sell at 82.80

Target – 82.50

Stop loss – 82.95