May 03 2018

Trade Idea for the day

USDINR :- Pair has shown recovery from day low levels, rupee has taken a breather after Fed Meet. Seen taking support at around 66.50 levels currently trading below 14 day SMA, Momentum indicators like RSI is indicating buy and MACD around zero line.

Our Preference:-  Buy below 66.55

Target – 66.70-66.75

Stop loss – 66.48

EURINR: – Pair currently trading below 21 day SMA on hourly charts ,MACD crossover below zero line and RSI indicating to buy.

Our Preference: – Buy below 79.80

Target – 80.10-80.15

Stop loss – 79.65

GBPINR: – Momentum indicators like RSI towards oversold territory and MACD convergence below zero line giving buy signals , currently trading below 21 day SMA.

Our Preference: – Buy at 90.50-90.55

Target – 90.80-90.85

Stop loss – 90.35

JPYINR: – Pair trading above 14 day SMA seen heading higher, RSI is neutral and MACD below zero line giving buy signals.

Our Preference: – Buy around 0.6070

Target – 0.6085-0.6090

Stop loss – 0.6058