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Published on 17/04/2018 10:37:09 AM | Source: Choice Broking Pvt Ltd

GBPINR extended the gain on Monday and sustained on higher levels with new weekly highs - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR traded in range for the day. Overall, pair has ended the week on positive note.

On the daily chart, USDINR has slipped from upper band of Bollinger pattern as well as formed a Doji candlestick pattern; which act as immediate resistance zone for the pair.

On the other hand, a momentum indicator RSI (14) has pulled back from high and MACD has shown negative crossover.

On the above technical studies & parameter, we expect further correction move in the prices towards 65.95 level.

JPYINR

Technical View:

JPYINR traded higher on Monday and settled on positive note.

On the daily chart, pair has shown good upward movement but in last two days of the week prices has retreated from high and closed the week on negative note.

Moreover, RSI has reversed back from high with negative crossover on daily chart.

So based on the above technical structure and indicator, we expect further pull back in JPYINR towards 60.60 levels.

GBPINR

Technical View:

GBPINR extended the gain on Monday and sustained on higher levels with new weekly highs.

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 94.20 levels.

EURINR

Technical View:

EURINR opened on positive note and continued the upward rally for the day.

On a weekly chart, pair has been trading within a rising channel formation; which intimate upward trend for near term.

On the daily chart, pair has moved above last two days of high and sustained above $81 level.

Furthermore, a momentum indicator RSI (14) has shown upward move on daily chart; which suggest bullish reversal in the counter.

So based on the above technical structure and indicator, we expect bullish movement towards 81.50 levels.


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