Oct 23 2018

Trade idea for the day

USDINR: The pair USDINR is struggling to trade between the range of moving averages, at present it seems facing the 200 period resistance on 30 minutes chart at 73.81. RSI (14) is in overbought region, indicating the prices to reverse.

Our Preference: – Sell at 73.80

Target – 73.56

Stop loss – 73.90

GBPINR: A downward sloping trend-line and a 50 period EMA resistance is stopping GBPINR to move higher. Slow Stochastic is about to give a bearish crossover with %K and %D.

Our Preference: – Sell at 95.60

Target – 95.30

Stop loss –95.75