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Published on 17/05/2019 11:10:30 AM | Source: Choice Broking Pvt Ltd

GBPINR were almost 1% down on Thursday session and closed below 90 level - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* Indian Rupee has appreciated by 0.5% against US Dollar and settled near 70 level.

* On the daily chart, pair has little corrected from upper Bollinger band but still trading above the falling trendline.

* Moreover, price has moved above Parabolic Sar indicator, which support bullish trend for near term.

* Furthermore, a momentum indicator RSI and MACD has shown positive crossover, which indicates northward trend In the pair.

* So based on the above analysis, we expect bullish movement in USDINR towards 70.50 level.

 

JPYINR

Technical View:

* JPYINR has slipped from the highs and settled below the prior close.

* On the daily chart, pair has given trendline breakout and sustained near to upper Bollinger band formation.

* Moreover, price has moved above 200 days DEMA on the daily chart , which signifies bullish sentiments in the counter.

* Furthermore, a momentum indicator RSI (14) and MACD has been moving in bullish direction with positive crossover.

* So based on the above technical aspects, we expect recovery in JPYINR towards 64.25 level.

 

GBPINR

Technical View:

* GBPINR were almost 1% down on Thursday session and closed below 90 level.

* On the daily chart, pair has returned from upper Bollinger band formation and shifted under the Channel.

* Moreover, a momentum indicator RSI and MACD has shown negative crossover on the daily chart.

* So based on the above technical structure, we expect sideways to bearish move in GBPINR towards 89.60 level.

 

EURINR

Technical View:

* EURINR has moved lower on Thursday session and shifted below 79 level.

* On the daily chart, pair has moved above its multiple resistance and sustained above 100 DEMA.

* In addition, pair has moved above 21 days SMA on the daily chart.

* A momentum indicator RSI (14) and MACD has shown further strength into positive side.

* So based on the above studies, we expect sideways to bullish move in EURINR future towards 79 level.

 

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