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Published on 23/01/2019 10:25:57 AM | Source: Choice Broking Pvt Ltd

GBPINR continued the upward trend with total gain of 0.8% during the day - 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 settled on a positive note.

* On the daily chart, pair has given a breakout of falling wedge pattern; which indicates bullish setup in the counter.

* Moreover, pair has sustained above 50 days SMA, which suggest upward trend for near term.

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

* So based on the above analysis, we expect bullish movement in USDINR (Jan) towards 71.90 level.

 

JPYINR

Technical View:

* JPYINR were little positive during the Tuesday session and ended the day above 65 level with gain of 0.3%.

* On the daily chart, pair has given rising trend breakdown; which indicates bearish movement for near term.

* Moreover, pair has shifted below 21 SMA on the daily chart.

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

* So based on the above technical aspects, we expect bearish movement in JPYINR (Jan) towards 64.70 level.

 

GBPINR

Technical View:

* GBPINR continued the upward trend with total gain of 0.8% during the day.

* On a weekly chart, pair has found the trend line support at lower levels and bounced back further.

* It additions, pair has sustained above 21 days DEMA on the daily chart.

* Moreover, a momentum indicator RSI (14) and MACD has shifted into positive zone with positive crossover.

* Hence, we expect bullish movement in GBPINR (Jan) towards 92.80 level.

 

EURINR

Technical View:

* EURINR has traded positively on Tuesday session and settled above prior close.

* On the daily chart, pair has given falling trend line breakout and sustained above it, which suggest bullishness in the prices.

* In addition, pair has moved above 21 SMA on a daily chart, which indicates more upside in the prices.

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

* So based on the above studies, we expect bullish movement in EURINR (Jan) future towards 81.60 level

 

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