Mar 05 2019

Trade idea of the day

USDINR– In hourly chart, we see the pair had bearish move after today’s opening. Momentum indicators are near to their oversold territory- Relative Strength Index of 14 day is at 37 and Stochastic is at 28.

Our Preference– Buy at 70.70


Stop loss– 70.59

JPYINR– We see the pair is following downtrend but now price might take a correction from initial levels. RSI is at 33 and Stochastic slow is at 26, both indicators are near to its oversold zone.

Our Preference-Buy at 0.6320

Target– 0.6350

Stop loss-0.6305