May 04 2018

Trade Idea for the day

USDINR :- Strong dollar ahead of key Payroll data lead to rupee touching a low of 66.80 , RSI is indicating a sell with MACD above zero line.

Our Preference:-  Sell around 66.80

Target – 66.60-66.65

Stop loss – 66.85

EURINR: – Pair currently trading above 14 day SMA on hourly charts, seen taking support at around 79.50 in recent sessions. MACD around zero line and RSI is neutral.

Our Preference: – Buy below 79.90

Target – 80.10-80.15

Stop loss – 79.78

GBPINR: – RSI indicating to sell and MACD around zero line giving sell signals, currently trading above 21 day SMA.

Our Preference: – Sell at 90.70

Target – 90.50-90.55

Stop loss – 90.85