May 18 2018

Trade Idea for the day

USDINR: – Indian Rupee is hovering around the 68 figure; 14 day SMA is below that. Technical indicator MACD is above zero line and RSI is showing a buy.

Our preference: –            Buy below 67.95

Target – 68.15-68.25

Stop Loss – 67.85

EURINR: – It is above 14 day SMA on hourly charts at 80.26. Technically MACD heading towards zero line from negative value giving buy signal. RSI is around the neutral range.

Our preference: –            Buy below 80.10

Target – 80.40 – 80.55

Stop loss – 79.95

GBPINR: – Priced at 91.85, 14 day SMA is below that showing a buy. Momentum indicator MACD has just crossed the centre line, while RSI is neutral.

Our preference: –            Buy below 91.75

Target- 92.00-92.10

Stop Loss – 91.65

JPYINR: – on a hourly chart, the Yen rupee pair is at 0.6130, just crossing the 14 day SMA line, indicating a buy. Technical indicators are showing a MACD below zero line and a neutral RSI.

Our preference: –            Buy below 0.6110

Target – 0.6145 – 0.6155

Stop Loss – 0.6100

EURUSD: – Pair is hovering above 1.18 levels, trading just above the 14 day SMA on hourly charts. Momentum RSI is neutral while MACD is just below the centreline indicating a buy.

Our Preference: –            Buy below 1.1795

Target – 1.1820-1.1830

Stop Loss – 1.1785

GBPUSD: – Cable is trading around the 1.35 level, above the 14 day SMA on hourly charts. Momentum indicator MACD is below the zero line and RSI is indicating a sell.

Our Preference: –            Sell above 1.3510

Target – 1.3490-1.3485

Stop Loss – 1.3520

USDJPY: – 14 day SMA is above the current rate of 110.91, indicating a buy along with MACD indicating a buy though RSI is neutral.

Our preference: –            Buy below 110.85

Target – 111.0-111.10

Stop loss – 110.70