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Published on 22/01/2019 10:07:18 AM | Source: Choice Broking Pvt Ltd

USDINR were slightly positive on Monday, settled above the prior close with total gain of 0.2% - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

*  USDINR were slightly positive on Monday, settled above the prior close with total gain of 0.2%

*  On the daily chart, pair has given a breakout of falling wedge pattern; which indicates bullish setup in the counter.

*  Moreover, pair has sustained above 50 days SMA, which suggest upward trend for near term.

*  Furthermore, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart,

*  So based on the above analysis, we expect bullish movement in USDINR (Jan) towards 71.75 level. 

 

JPYINR

Technical View:

*  JPYINR opened gap up and continued the trades on negative note on Monday.

*  On the daily chart, pair has given rising trend breakdown; which indicates bearish movement for near term.

*  Moreover, pair has shifted below 21 SMA on the daily chart.

*  Furthermore, a momentum indicator RSI (14) and MACD has shown negative crossover on the daily chart.

*  So based on the above technical aspects, we expect bearish movement in JPYINR (Jan) towards 64.70 level. 

 

GBPINR

Technical View:

*  GBPINR opened gap down and continued the trades on negative note on Monday.

*  On a weekly chart, pair has found the trend line support at lower levels and bounced back further.

*  It additions, pair has sustained above 21 days DEMA on the daily chart.

*  Moreover, a momentum indicator RSI (14) and MACD has shifted into positive zone with positive crossover.

*  Hence, we expect bullish movement in GBPINR (Jan) towards 92.30 level.

 

EURINR

Technical View:

*  EURINR opened gap up and continued the trades on negative note on Monday.

*  On the daily chart, pair has given falling trend line breakout and sustained above it, which suggest bullishness in the prices.

*  In addition, pair has moved above 21 SMA on a daily chart, which indicates more upside in the prices.

*  Moreover, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart.

*  So based on the above studies, we expect bullish movement in EURINR (Jan) future towards 81.80 level

 

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