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Published on 12/10/2018 9:56:48 AM | Source: Choice Broking Pvt Ltd

Technical Currency Outlook 12 October 2018- USD, GBP, JPY, EUR by Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDNR has closed flat on Thursday and settled on slightly negative note.

Moreover, Price has given “Symmetrical Triangle” breakout and sustained above the formation; which suggest more bullish trend in the counter.

Furthermore, a momentum indicator RSI and MACD has shown positive crossover on daily chart; which adds more bullishness to the price.

So based on the above analysis, we expect bullish movement in USDINR towards 74.80 levels.

JPYINR

Technical View:

JPYNR has closed flat on Thursday and settled on slightly negative note.

Moreover, Price has given “Symmetrical Triangle” breakout and sustained above the formation; which suggest more bullish trend in the counter.

On an hourly chart; a momentum indicator RSI and MACD has shown positive crossover on daily chart; which adds more bullishness to the price.

Furthermore, price has moved above 21 days SMA on the daily chart , which signifies bullish sentiments in the counter.

So based on the above analysis, we expect bullish movement in JPYINR towards 66.55 levels.

GBPINR

Technical View:

GBPNR has closed up on Thursday and settled on positive note. In addition, price has taken rising trend line breakout and sustain above rising trend line ; which stipulate further upside in the counter.

On an hourly chart; a momentum indicator RSI and MACD has shown positive crossover on daily chart; which adds more bullishness to the price.

Furthermore, price has moved above 21 days SMA on the daily chart , which signifies bullish sentiments in the counter.

So based on the above analysis, we expect bullish movement in GBPINR towards 98.50 levels.

EURINR

Technical View:

EURNR has closed flat on Thursday and settled on slightly positive note.

In addition, price has taken rising trend line support; which stipulate further upside in the counter.

On an hourly chart; a momentum indicator RSI and MACD has shown positive crossover on daily chart; which adds more bullishness to the price.

Furthermore, price has moved above 21 days SMA on the daily chart , which signifies bullish sentiments in the counter.

So based on the above analysis, we expect bullish movement in GBPINR towards 86.30 levels.

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