May 10 2018

Trade Idea for the day

USDINR :- Local Pair is highly overbought on daily and weekly charts, currently holding above 21 day SMA. Momentum indiactors on hourly charts like RSI indicating to sell with MACD above zero line.

Our Preference:-  Sell above 67.40

Target – 67.20-67.25

Stop loss – 66.51

EURINR: – Pair is seen taking resistance at 80 around levels, holding above 14 day SMA on hourly charts. Momentum indicators like MACD above zero line and RSI giving sell signals.

Our Preference: – Sell around 80 levels

Target – 79.70-79.75

Stop loss – 80.10