May 17 2018

Trade Idea for the day

USDINR :-  Rupee gained yesterday after touching a low of 68.14 and taken support at 67.60 levels today, Currently holding around 14day SMA. Technical indiactors like MACD likely crossover below zero line and RSI giving buy signals.

Our Preference:-  Buy below 67.65

Target – 67.80-67.85

Stop loss – 67.50

EURINR: – Not seen sustaining below 80 levels, currently trading around 21 day SMA on hourly charts. Technically RSI heading towards oversold territory and MACD below zero line giving buy signals.

Our Preference: – Buy at 79.90-79.95

Target – 80.15-80.20

Stop loss – 79.80

GBPINR: – Pair moved lower from opening levels of 91.81 to touch below 91.50 levels, Currently trading around 14 day SMA. Momentum indicators like RSI is nuetral and MACD hovering around zero line , pair can be boughting targeting opening levels.

Our Preference: – Buy Around 91.50

Target – 91.70-91.80

Stop loss – 91.35

JPYINR: – Pair moved lower after USDJPY moved higher to touch 110.60 levels, currently trading below 14 day SMA on hourly charts. Momentum indicators Like RSI towards oversold territory and MACD below zero line buy signals.

Our Preference: – Buy around 0.6125

Target – 0.6150-0.6160

Stop loss – 0.6108