Feb 27 2019

Trade idea of the day

USDINR– In hourly chart, the pair is likely take some bearish move for intraday target. Bearish divergence can be seen in Stochastic slow and Relative Strength Index is at 60.

Our Preference– Sell at 71.30

Target– 71.10

Stop loss– 71.45

EURINR– Intraday traders can take sell position for short term target. Relative Strength Index of 14 day is at 64 with clear bearish divergence. We noticed that 50 EMA acted well earlier so expecting price action to touch it back again.

Our Preference– Sell at 81.10

Target– 80.75

Stop loss– 81.30

USDJPY– Hourly chart showing that the price of the pair is trading close to the support of trend line. Momentum indicators are in oversold territory- Stochastic slow is at 19 and Relative Strength Index of 14 day is 33 respectively.

Our Preference– Buy at 110.40

Target– 110.70

Stop loss-11.25