Oct 08 2018

Trade idea for the day

USDINR: The pair has given a upside breakout to the short term range in the hourly chart, One can take a long position at when the pair will re-test its breakout zone. RSI 14 period is hovering above 50 mark – signalling the strength of bulls..

Our Preference: – Buy at 73.75-80

Target – 74.23

Stop loss – 73.68.

EURINR: A golden crossover between 50 period EMA and a 200 period SMA is seen on the hourly chart – signalling the prices to go higher. RSI (14 period) too is hovering well above its 50 mark.

Our Preference: – Buy at 84.95-85.00

Target – 85.40

Stop loss – 84.80