Oct 24 2018

Trade idea for the day

USDINR: The pair USDINR seems facing a 200 period Simple Moving average (SMA) Resistance at 73.33, though RSI (14 period) turned back from overbought zone.

Our Preference: – Sell at 73.30-32

Target – 73.14

Stop loss – 73.40

JPYINR: A Double bottom is formed on the hourly chart of JPYINR, suggesting a possible rebound. RSI (14 period) turned back from its oversold region.

Our Preference: – Buy at 0.6510-13

Target – 0.6530 – 0.6545

Stop loss –0.6498