Oct 25 2018

Trade idea for the day

USDINR: The pair is hovering close to its short term resistance zone on the hourly chart. A 50 period EMA is resisting on the chart at 73.47 mark and along with that a trend-line resistance is seen at levels around 73.40-42. RSI (14 period) is below 50 mark.

Our Preference: – Sell at 73.38-42

Target – 73.10-07

Stop loss – 73.52

GBPINR: The pair seems giving an another chance to enter in short side. A pullback towards the breakout of downward sloping trend-line support (now gets converted in to resistance) is seen.

Our Preference: – Sell at 94.66

Target – 94.20

Stop loss –94.89