Feb 21 2019

Trade idea for the day

USDINR:-On the hourly chart,a single reversal candle “Hammer” is formed at the lower levels – suggesting that the short term downtrend is arrested. RSI(14 period) turned back from its oversold zone, another reason to go long in US Dollar.

Our Preference:- Buy at 71.05

Target- 71.30

Stop loss- 70.95

EURUSD:-The pair seems finding its intraday support near current levels, a trend-line resistance is seen towards 1.1310-20 mark. In RSI(14) too there is a trend-line support, which could help the pair to move higher for intra-day.

Our Preference:- Buy at 1.1320-25

Target- 1.1350 and 1.1370

Stop loss- 1.1305