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Published on 18/06/2019 10:06:12 AM | Source: Choice Broking Pvt Ltd

EURINR traded lower and extended the loss of 0.18% on Monday - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USINR has traded in positive territory on Monday session but unable to sustained above 70 levels.

On the daily chart, pair has rebound from the bottom and sustained above 50 days DEMA, which indicates bullish move for near term.

On a weekly scale, pair has sustained above lower Bollinger band formation

. Furthermore, a momentum indicator RSI (14) has indicated positive crossover on the daily chart, which may keep the prices higher.

So based on the above analysis, we expect bullish movement in USDINR (June) towards 70.25 level.

 

JPYINR

Technical View:

JPYINR has slipped by 0.25% during the Monday trades.

On the daily chart, pair has given trendline breakout and sustained above it. Moreover, price has moved above upper band of Bollinger formation.

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 64.80 level.

 

GBPINR

Technical View:

GBPINR continued down by 0.27% during the Monday session and shifted below the prior close.

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 87.80 level.

 

EURINR

Technical View:

EURINR traded lower and extended the loss of 0.18% on Monday.

On the daily chart, pair has been trading between two consecutive line, where price has retreated from upper Bollinger band and trading near to it.

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 78.30 level.

 

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