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Published on 11/12/2019 10:46:46 AM | Source: Choice Broking Pvt Ltd

We expect bearish move in GBPINR future towards 93.50 level - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* The USDINR weakened and fell by 0.19% during the last trading session.

* Also, the price has sustained below its 20*50 EMA which signals negative momentum in the near term.

* Moreover, the price has been trading below its Parabolic SAR which indicates bearish strength in USDINR.

* Additionally, momentum indicator MACD has shown a negative crossover, which indicates that the bears are in control.

* Hence, we expect bearish move in USDINR future towards 70.85 level

 

JPYINR

Technical View:

* During it’s previous session JPYINR opened lower closing in a negative note by 0.19%

* Also, the pair has sustained below its Ichimoku Cloud which indicatesthat the bears are in power.

* Furthermore, the price has shifted below its 20*50 EMA which is negative for the counter.

* Additionally, the pair’s Heikin Ashi candle has formed a series of strong red candles which signals that the bears are in control.

* So based on the above technical structure, we expect sidewaysto bearish move in JPYINR towards 65.48 level.

 

GBPINR

Technical View:

* In the last trading session, GBPINR closed on a negative note by 0.07%.

* Also the pair has faced resistance near its upper Bollinger Band which signals that the bears have entered the counter.

* Moreover, the Heikin Ashi candle of the pair has made a fresh red candle which indicates bearishness.

* Additionally, momentum indicator Stochastic (6) has shown a negative crossover which indicates weakness.

* So based on the above technical structure, we expect bearish move in GBPINR future towards 93.50 level.

 

EURINR

Technical View:

* The EURINR closed flat by -0.07 % during its previous trading session.

* But, on the daily timeframe, the pair has started trading below its Parabolic SAR which signals bearish strength in the counter.

* Moreover, the pair’s Heikin Ashi candle has formed a strong red candle which indicates that the bears are in power.

* Additionally, momentum indicator RSI (14) has sustained below its 50 level which signals that the bearishness.

* So based on the above technical structure, we expect a bearish move in EURINR towards 78.61 level.

 

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