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Published on 4/06/2019 9:43:15 AM | Source: Choice Broking Pvt Ltd

EURINR has traded almost 0.33% down on Monday session and settled below 78 levels - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USDINR has corrected more than half percent during the Monday trades.

On the daily chart, pair has retreated from upper band of Bollinger formation and given Symmetrical Triangle pattern breakdown.

Moreover, pair has shifted below 50 days DEMA on the daily timeframe.

Furthermore, a momentum indicator RSI (14) and MACD has shown negative crossover on the daily chart.

So based on the above analysis, we expect bearish movement in USDINR (June) towards 69.10 level.

 

JPYINR

Technical View:

JPYINR has slipped almost 0.3% from the high of 64.52 on Monday session.

On the daily chart, pair has diminished from the upper Bollinger band formation but sustained above the prior day low.

Moreover, price has been moving above 50 days DEMA on the daily chart, which signifies bullish sentiments for near term.

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 64.60 level.

 

GBPINR

Technical View:

GBPINR were slightly lower with loss of 0.25% on Monday session.

On a weekly chart, pair has given trend line breakdown and traded near lower Bollinger band formation, which indicates bearish move in the counter.

In addition, pair has also shifted below Parabolic Sar on a weekly timeframe, which suggest downward move for near term.

So based on the above technical structure, we expect sideways to bearish move in GBPINR (June) towards 87.30 level.

 

EURINR

Technical View:

EURINR has traded almost 0.33% down on Monday session and settled below 78 levels.

On the daily chart, pair has been trading between two consecutive line, where it has taken a support at lower Bollinger Band formation and shifted above the trend line.

In addition, pair has still been trading below 50 DEMA on the daily scale.

A momentum indicator RSI (14) has moved lower with negative crossover.

So based on the above studies, we expect sideways to bearish move in EURINR (June) future towards 77.30 level.

 


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