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Published on 19/11/2019 10:35:03 AM | Source: Choice Broking Pvt Ltd

We expect bullish move in USDINR future towards 72.09 level - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

 The USDINR pair during it’s Monday session closed flat – 0.03%.

 But, the pair has been trading above it’s Parabolic SAR, which confirms bullishness.

 Also, the pair has been trading above it’s Ichimoku Cloud which indicates strength in the counter.

 Additionally, a momentum indicator RSI (14) has sustained above it’s 50 level which confirms power to the bulls.

 Hence, we expect bullish move in USDINR future towards 72.09 level.

 

 

JPYINR

Technical View:

 During it’s Monday session JPYINR slipped by 0.30%.

 On the daily chart, the pair has closed below the Ichimoku cloud which indicates bearishness in the counter.

 Moreover, On the daily chart the Heikin Ashi candle of the pair has turned red which confirms weakness.  Additionally, a momentum indicator Stochastic (6) has shown a negative crossover, which confirms power to the bears.

 So based on the above technical structure, we expect bearish move in JPYINR towards 65.77 level.

 

 

GBPINR

Technical View:

 GBPINR closed with a positive note and gained 0.70% during it’s Monday session.

 On the daily timeframe GBPINR has formed a series of higher highs and higher lows.

 The pair is currently trading above it’s previous swing highs, which can act as a great support in the near term.

 The pair is also trading above it’s Parabolic SAR, which is a positive sign for the pair, Also momentum indicator RSI (14) has been moving up decisively which is a bullish sign.

 So based on the above technical structure, we expect bullish move in GBPINR future towards 93.37 level.

 

 

EURINR

Technical View:

 EURINR closed with positive note and gained 0.30% in the last trading session.

 On the daily chart, the pair is trading above it’s upward sloping trendline and has also sustained above it’s Ichimoku cloud which is bullish for the counter.

 Also, the pair has taken support of it’s 200 EMA and moved upwards which indicates strength.

 Moreover, a momentum indicator RSI (14) has sustained above it’s 50 level which indicates bullishness in the pair.

 So based on the above technical structure, we expect a bullish move in EURINR towards 79.76 level.

 

 

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