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Published on 20/05/2019 9:54:21 AM | Source: Choice Broking Pvt Ltd

JPYINR were little positive on Friday session after the down fall in previous day - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

The dollar has little recovered against Rupee in last day of the week.

On the daily chart, the pair has taken falling trendline support and pulled back from there.

Moreover, the price has been trading above 100 days DEMA, which could be an immediate support for the pair.

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 were little positive on Friday session after the down fall in previous day.

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

Moreover, price has been moving above 100 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 64.40 level.

 

GBPINR

Technical View:

GBPINR fell by 1.53% during the week and settled below 90 level.

On the daily chart, pair has given trendline breakdown and shifted below lower Bollinger band formation, which indicates bearish move in the counter.

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 89.40 level.

 

EURINR

Technical View:

EURINR has traded down by 0.18% on Friday session.

On the daily chart, price has reversed from upper Bollinger band formation , which acts as resistance zone for the pair.

In addition, pair has tested 100 DEMA support on the daily scale.

A momentum indicator RSI (14) has moved lower with negative crossover.

So based on the above studies, we expect sideways to bearish move in EURINR future towards 78.10 level.

 

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