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Published on 12/04/2018 10:02:47 AM | Source: Choice Broking Pvt Ltd

EURINR has started the day on positive note and continue the rally for entire day - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR opened on flat note and moved higher around 0.43% on Wednesday trading session.

On the daily chart, USDINR has sustained within a channel formation as well as found the support of lower Bollinger band pattern in prior sessions and bounced back from there; which intimate more bullishness in the pair.

On the other hand, a momentum indicator RSI (14) has turned back to bullish mode with positive crossover.

On the above technical studies & parameter, we expect bullish move in the prices towards 65.90 levels.

JPYINR

Technical View:

JPYINR extended the gain on Wednesday and traded above the trend line breakout on hourly chart.

On the daily chart, pair has managed to sustain above $61 level after the prior downfall; where lower Bollinger formation and 50 days SMA has supported the prices.

Moreover, RSI has turned back to upward moves with positive crossover on daily chart.

So based on the above technical structure and indicator, we expect bullish movement in JPYINR towards 61.70 levels.

GBPINR

Technical View:

GBPINR continued the upward rally on Wednesday and settled above the previous week high.

On a weekly chart, GBPINR has sustained above the trend line breakout with good consolidation; where pair has made a new high after a couple of the week.

Moreover, A momentum indicator RSI (14) and MACD has traded on bullish mode with positive crossover on weekly chart.

As per the above technical structure, we are expecting bullish movement in the prices towards 93.20 levels.

EURINR

Technical View:

EURINR has started the day on positive note and continue the rally for entire day.

On the daily chart, pair has been trading within a Bollinger formation; where it has found the support at lower line of the formation and revived from there; which indicate further bullishness in the prices.

A momentum indicator RSI (14) has recovered form the bottom and indicated positive crossover on daily chart.

Furthermore, 50days SMA has also supported the prices to move further up.

So based on the above technical structure and indicator, we expect bullish movement towards 81.40 levels.


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