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Published on 21/01/2019 9:59:36 AM | Source: Choice Broking Pvt Ltd

we expect bullish movement in EURINR (Jan) future towards 81.80 level - Choice Broking

Posted in Top Stories| #Currency Tips #Choice Broking

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USDINR

Technical View:

* USDINR has traded in narrow range on last day of the week and settled on positive note.

* 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 71.70 level.

 

 

JPYINR

Technical View:

* JPYINR opened gap down and continued the trades on negative note on Friday.

* 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 has increased by 0.7% during the Friday session and also ended the week on positive note.

* 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 92.70 level.

 

 

EURINR

Technical View:

* EURINR were slightly positive on Friday, settled above the prior close with total gain of 0.3%

* 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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