Feb 12 2019

Trade idea of the day

USDINR– After a strong bearish move, the pair is trading on a heavy support zone. Momentum Indicators are in oversold territory- Stochastic slow is at 17 and RSI of 14 day is at 17.

Our Preference– Buy at 70.95(Current level)

Target– 71.25

Stop loss– 70.80

GBPINR– According to hourly chart, price is likely to rise for near term target (Intraday move). Relative Strength Index is at 30 and Stochastic is at 15. Both effective indicators are in oversold zone.

Our Preference– Buy at 91.20

Target– 91.50

Stop loss– 91.05

USDJPY– Technical Indicators signaling price to move downside. A Clear Bearish Divergence can be seen in MACD indicator. Relative Strength Index (14 day) is at 58, coming back from overbought zone.

Our Preference– Sell at 110.50

Target– 110.20

Stop loss-110.65