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Published on 13/03/2018 10:14:24 AM | Source: Choice Broking Pvt Ltd

GBPINR has been trading within a rising channel - Choice Broking

Posted in Top Stories| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR has sustained above the falling trend line.

Currently price is moving within a expanding wedge. A positive divergence is visible in daily RSI.

On the above technical studies & parameter, we are expecting upward move in the price towards 65.50 levels.

JPYINR

Technical View:

JPYINR has moved up smartly after it had broken above the previous peak.

In addition, JPYINR is trading within the rising channel and price is currently trading at the lower band.

On the above technical studies & parameter, we are expecting bullish move towards 61.60 levels.

GBPINR

Technical View:

GBPINR has been trading within a rising channel. However, on the higher end price has found resistance at the upper band of the said channel.

Price has been sustaining above the major DMAs.

Momentum oscillator, has come out of the overbought and currently finding support at previous trough.

As per the above technical structure, we are expecting bullish movement in the prices towards 91 levels.

EURINR

Technical View:

EURINR has been moving in rising wedge formation; where pair has traded near the lower side of the formation; which could be a immediate support for the prices.

Moreover, RSI has turned back from overbought zone; which intimate bearishness in the pair for near term.

Furthermore, MACD has also shown negative crossover on daily chart.

Based on the above technical studies or indicator, we expect bearish movement in the prices towards 79.90 levels.


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