Feb 04 2019

USDINR Trade Idea

USDINR:-After a gap up open at 71.60 the momentum indicators have reached their overbought territories – RSI is at 70 mark and the Stochastic slow is at 86, suggesting a possible price reversal. a Spinning top at the top of hourly chart is formed, signalling a possible cool off.

Our Preference:- Sell below  71.62

Target- 71.40

Stop loss- 71.74