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

Target-70.90

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