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Published on 25/06/2019 9:54:43 AM | Source: Choice Broking Pvt Ltd

JPYINR has traded in narrow range during the day and settled at negative note - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

Indian rupee has appreciated by 0.32% against the US Dollar on Monday.

On the daily chart, pair has retreated from upper Bollinger Band formation and falling trendline.

On a weekly scale, pair has been moving in Symmetrical Triangle pattern.

Furthermore, a momentum indicator RSI (14) and MACD has shown negative crossover, which suggest bearishness in the counter.

So based on the above analysis, we expect moderate bearishness in USDINR (June) towards 69.05 level.

 

JPYINR

Technical View:

JPYINR has traded in narrow range during the day and settled at negative note.

On the daily chart, pair has given trendline breakout and sustained above it.

Moreover, price has moved above upper band of Bollinger formation.

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 65 level.

 

GBPINR

Technical View:

GBPINR has climbed almost half percent during the Monday session.

On a weekly timeframe, pair has still been trading below trend line and 21 weeks SMA.

On the daily scale, pair has been facing resistance at upper Bollinger band formation and 50 days DEMA.

In addition, a momentum indicator RSI (14) and MACD has shown negative crossover, which suggest further downside in the prices.

So based on the above technical structure, we expect sideways to bearish move in GBPINR (June) towards 88.10 level.

 

EURINR

Technical View:

EURINR has shown good upside during the day and managed to sustain above the prior close with gain of 0.51%.

On the daily chart, pair has been trading between two consecutive line, where price has retreated from upper Bollinger band and trading near to it.

In addition, pair has consolidated 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 79.95 level.

 

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