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Published on 6/06/2019 9:44:06 AM | Source: Choice Broking Pvt Ltd

EURINR has traded on positive note with total gain of 0.50, up by 0.64% on Tuesday session - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USDINR has traded in narrow range on Tuesday and closed on flat note.

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 level.

 

 

JPYINR

Technical View:

JPYINR has little recovered by 0.3% during the Tuesday 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 64.70 level.

 

 

GBPINR

Technical View:

GBPINR rebounded almost half percent on Tuesday trades and settled on positive note.

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 88.60 level.

 

 

EURINR

Technical View:

EURINR has traded on positive note with total gain of 0.50, up by 0.64% on Tuesday session.

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 78 level.

 

 

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