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Published on 13/07/2018 10:19:24 AM | Source: Choice Broking Pvt Ltd

GBPINR has closed down on Thursday session and settled below the previous close - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR has closed down on Thursday session and settled below the previous close.

On the daily chart, pair has taken rising trend line resistance ; which indicate down trend in the prices.

In addition, price has retreated from upper “Bollinger Band” pattern; which stipulate further downtrend in the counter.

Moreover, a momentum indicator RSI (14) and MACD has turned downward with negative crossover on daily chart.

So based on the above analysis, we expect bearish movement in USDINR towards 68.50 levels. 

JPYINR

Technical View:

JPYINR has closed down on Thursday settled below the previous close.

On the daily chart, Pair has breakout rising channel formation ; which suggest bearish trend in the pair.

In addition, price has sustain below lower “Bollinger Band” pattern; which stipulate further downtrend in the counter.

Moreover, a momentum indicator RSI (14) and MACD has turned downward with negative crossover on daily chart.

So based on the above structure and indicator, we are expecting bullish movement in JPYINR towards 60.80 levels.

GBPINR

Technical View:

GBPINR has closed down on Thursday session and settled below the previous close.

On the daily chart, Pair has given falling wedge pattern breakout and crossed previous range bound movement.

Moreover, Pair has moved above 21 days SMA on daily chart.

Furthermore, MACD has sustained on higher side with positive crossover.

As per the above technical structure, we are expecting sideways to bullish movement in the prices towards 91.20 levels.

EURINR

Technical View:

EURINR has closed down on Thursday session and settled below the previous close.

On the daily chart, pair has given falling channel breakout; which indicate bullish movement for near term.

In addition, pair has shifted above 21 days SMA on daily chart; which suggest upward moves for near term.

Furthermore, MACD has sustained on higher side with positive crossover.

As per the above technical structure, we are expecting bullish movement in prices towards 80.60 level.

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