May 11 2018

Trade Idea for the day

USDINR :- Pair has opened gap down on daily charts, currently holding above 14 day SMA. Momentum indiactors like RSI indicating to buy with MACD crossover below zero line giving bullish signs.

Our Preference:-  Buy around 67.18

Target – 67.30-67.35

Stop loss – 67.10

EURINR: – On daily charts recovered in last few session from recent lows, holding well above 14 day SMA on hourly charts. Momentum indicators like MACD above zero line and RSI inching towards overbought territory giving sell signals.

Our Preference: – Sell around 80.25

Target – 79.90-79.95

Stop loss – 80.40