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Published on 12/07/2018 10:15:54 AM | Source: Choice Broking Pvt Ltd

JPYINR has moved higher in early trades on Wednesday but ended the session on flat note - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR has little changed on Wednesday session and settled near the previous close.

On the daily chart, pair has consolidated near the upper Bollinger Band formation and rising trend line.

Moreover, pair has sustained above 21 days SMA on daily chart; which suggest bullish moves in the counter.

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

So based on the above analysis, we expect bullish movement in USDINR towards 69.30 levels. 

JPYINR

Technical View:

JPYINR has moved higher in early trades on Wednesday but ended the session on flat note.

On the daily chart, Pair has been trading in rising channel formation ; which suggest bullish trend in the pair.

Moreover, pair has sustained below 21 days DEMA on daily chart.

Furthermore, a momentum indicator RSI (14) and MACD moved upward with positive crossover on daily chart.

So based on the above structure and indicator, we are expecting bullish movement in JPYINR towards 62.30 levels.

GBPINR

Technical View:

GBPINR has little recovered on Wednesday session and settled above 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, momentum indicator RSI (14) and 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 91.80 levels.

EURINR

Technical View:

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

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.

Moreover, a momentum indicator RSI (14) has traded near overbought zone with positive crossover.

As per the above technical structure, we are expecting bullish movement in prices towards 81.30 level.

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