Published on 17/07/2019 10:37:34 AM | Source: Choice Broking Pvt Ltd

GBPINR has been declined by 0.74% in the previous trading session - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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Technical View:

* On an hourly chart, USDINR has gained with 0.25% in last trading session.

* Moreover, price has pulled back from Bollinger band median given a positive breakout from upper Bollinger band.

* Moreover, pair has shifted above 21*50days SMA, which adds more strength for bullish trend in upcoming session.

* In addition, momentum indicator RSI(14) has sustained near 60.5 and another indicator Commodity Channel Index is at positive zone, which further witnessed bullish move in the price.

* So based on the above structure, we expect up side move towards 69.00 in USDINR for the day.



Technical View:

* JPYINR has closed slightly positive on last trading session and closed with gain of 0.12%.

* On an hourly timeframe, pair has traded above 21*50 days SMA, which is another significance for bullish move in the prices of the pair. Moreover, price has given a positive breakout to upper Bollinger band, which is a another signal for bullish market.

* In additions, a momentum indicator RSI (14) has shifted above 50 and another indicator CCI(14) has also shifted on the positive zone.

* So based on the above analysis, we expect bullish move in JPYINR towards 63.90 level.



Technical View:

* GBPINR has been declined by 0.74% in the previous trading session .

* On the daily chart, pair has continued movement below Bollinger band median line which is 20 days SMA and it adds more strength for bearish movement in near term.

* Moreover, pair has traded below 21 and 100 days EMA also price has closed below Parabolic sar, which adds pressure to move the price in negative side.

* Furthermore, a momentum indicator RSI(14) has moved under oversold zone with negative crossover.

* Hence, Based on above technical structure we expect bearish movement towards 85.40 level in GBPINR future.



Technical View:

* On the daily timeframe, EURINR pair has declined by 0.22% in the last trading day.

* Moreover, pair has traded below median line of Bollinger Band and Parabolic sar, which adds more bearish sentiments for the price.

* On the other hand, an oscillator MACD has moved below zero line and another momentum indicator RSI(14) has closed below a range of 50, which witnessed downtrend in the pairs.

* On the basis of above structure, we expect further negative move from some peaks in Pair towards 77.25 level.


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