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Published on 12/06/2019 9:55:46 AM | Source: Choice Broking Pvt Ltd

We expect bullish movement in USDINR (June) towards 69.95 level. - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* USDINR has slipped down by 0.27% on Tuesday session and closed the day with negative note.

* On the daily chart, pair has reversed back after taking a support at lower Bollinger band formation. Moreover, pair has shifted above 50 days DEMA on the daily timeframe.

* Furthermore, a momentum indicator RSI (14) and MACD has indicated positive crossover on the daily chart.

* So based on the above analysis, we expect bullish movement in USDINR (June) towards 69.95 level.

 

JPYINR

Technical View:

* JPYINR fell by 0.33% during the Tuesday trades but managed to sustain above 64 levels.

* On the daily chart, pair has been forming Cup & Handle pattern, which indicates bullish set-up in the pair.

* Moreover, price has sustained above 50 DEMA , which may support the buying trend.

* Furthermore, a momentum indicator RSI (14) has shown positive crossover, which suggest continue buying strength for near term.

* So based on the above technical aspects, we expect further upside in JPYINR (June) towards 64.30 level.

 

GBPINR

Technical View:

* GBPINR were slightly lower on Tuesday trades and closed the session on flat note.

* On a weekly timeframe, pair has still been trading below trend line and 21 weeks SMA.

* On the daily scale, pair has been facing resistance at upper Bollinger band formation and 50 days DEMA.

* In addition, a momentum indicator RSI (14) and MACD has shown negative crossover, which suggest further downside in the prices.

* So based on the above technical structure, we expect sideways to bearish move in GBPINR (June) towards 88.05 level.

 

EURINR

Technical View:

* EURINR has corrected almost 0.20% during the Tuesday sessions.

* On the daily chart, pair has been trading between two consecutive line, where it has sustained above upper Bollinger Band formation .

* In addition, pair has consolidated above 50 DEMA on the daily scale.

* A momentum indicator RSI (14) and MACD has show positive crossover on the daily timeframe, which suggest northward move in the pair.

* So based on the above studies, we expect bullish movement in EURINR (June) future towards 79.10 level.

 


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