Sep 06 2018

Trade idea for the day

USDINR: Slow Stochastic bearish divergence in hourly chart is indicating the bearish bias for intraday. Short term resistance for the pair is seen at 71.90-95

Our Preference: – Sell at 71.90-95

Target – 71.70

Stop loss – 72.00

EURINR: The pair is trading close to its short term resistance of 30 minutes chart and momentum indicator RSI (14 period) is at 64 mark, reaching to its overbought zone.

Our Preference: – Sell at 83.70-75

Target – 83.45

Stop loss – 83.87

JPYINR: A Double top pattern is formed on 30 minutes chart, indicating a intraday fall in JPYINR, RSI is hovering close to its overbought territory.

Our Preference: – Sell at 0.6455-60

Target – 0.6438

Stop loss – 0.6465