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Published on 10/06/2019 9:39:16 AM | Source: Choice Broking Pvt Ltd

GBPINR has gained almost 0.30% on Friday session and settled above the prior day close - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USDINR has traded on positive note with gain of 0.27% in last day of the week.

On the daily chart, pair has retreated from upper band of Bollinger formation and given Symmetrical Triangle pattern breakdown.

Moreover, pair has shifted below 50 days DEMA on the daily timeframe.

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

So based on the above analysis, we expect bearish movement in USDINR (June) towards 69.20 level.

 

 

JPYINR

Technical View:

JPYINR has moved in narrow range during the day and settled in negative territory.

On the daily chart, pair has diminished from the upper Bollinger band formation but sustained above the prior day low.

Moreover, price has been moving above 50 days DEMA on the daily chart, which signifies bullish sentiments for near term.

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 64.60 level.

 

 

GBPINR

Technical View:

GBPINR has gained almost 0.30% on Friday session and settled above the prior day close.

On the daily timeframe, pair has pulled back from lower Bollinger band support and sustained above the falling Trendline.

In addition, a momentum indicator RSI (14) has reversed from the oversold zone with positive crossover, which suggest further recovery in the prices.

So based on the above technical structure, we expect sideways to bullish move in GBPINR (June) towards 88.85 level.

 

 

EURINR

Technical View:

EURINR extended their recovery on Friday with total gain of 0.5% and closed the week on positive note.

On the daily chart, pair has been trading between two consecutive line, where it has taken a support at lower Bollinger Band formation and shifted above the trend line.

In addition, pair has sustained 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 78.80 level.

 

 

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