May 07 2018

Trade Idea for the day

USDINR :- In the early trade dollar moved above 67 level currently trading above 14 day SMA. Technically the pair is overbought on daily and hourly charts ,RSI in overbought teritory with MACD above zero line giving sell signals.

Our Preference:-  Sell Above 67.10

Target – 66.90-66.95

Stop loss – 67.23

EURINR: – Trading above 14 day SMA on hourly charts, Momentum indicators like RSI indicating to sell and MACD above zero line giving sell signals.

Our Preference: – Sell Above 80.15

Target – 79.90-79.95

Stop loss – 80.25

GBPINR: – On daily charts pair has recovered after 7 day continuous fall, currently trading above 14 day SMA. MACD above zero line and RSI indicating to Sell.

Our Preference: – Sell at 90.85

Target – 90.50-90.55

Stop loss – 90.94