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Published on 9/03/2018 10:53:06 AM | Source: Choice Broking Pvt Ltd

USDINR has found the support of 50% retracement levels and moved higher on daily chart - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR has found the support of 50% retracement levels and moved higher on daily chart.

Moreover, Price has been moving within a expanding wedge formation.

Furthermore, momentum indicator RSI (14) and MACD is in bullish trend with positive crossover on daily chart.

On the above technical studies & parameter, we are expecting upward move in the price towards 65.70 levels.

JPYINR

Technical View:

JPYINR has started the day on negative note; where pair has tried to recover for the day.

Overall, JPYINR has been moving in rising channel formation; where pair has shifted again into a channel after giving a breakout on daily chart.

Moreover, price has crashed below 21 days DEMA, which intimate further profit booking on higher levels.

Furthermore, momentum indicator RSI (14) is in overbought zone; which suggest further selling pressure in upcoming days.

On the above technical studies & parameter, we are expecting bearish move towards 61.00 levels.

GBPINR

Technical View:

GBPINR extended the gain on Thursday; where pair has settled above its previous day close.

Overall, GBPINR has been moving in channel formation; where pair has been moving near the lower line of channel formation, which indicate immediate support level for the pair.

In addition , momentum indicator RSI (14) has moved in buying mood with positive crossover.

As per the above technical structure, we are expecting bullish movement in the prices towards 91.00 levels.

EURINR

Technical View:

EURINR has found the support of lower line of rising channel formation and moved upward; which intimate bullishness in the pair.

Moreover, Pair has been rising form last couple of the days and 21 days DEMA has also supported the prices to move upward.

Based on the above technical studies or indicator, we expect bullish movement in the prices towards 81.10 levels.

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