Choice International Ltd
Published on, 23/11/2017 11:02:55 AM

JPYINR

Technical View:

Price started on a positive note and closed near day’s high.

Price has closed above 100 DMA. Momentum indicator RSI (14) is in bullish crossover and above 50.

For now, we expect price to move up towards 58.50 levels in the coming trading sessions.

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Choice International Ltd
Published on, 23/11/2017 11:02:26 AM

GBPINR

Technical View:

On a the daily chart, price has formed a double top which is bearish in nature.

Price failed to sustain above the half way of previous session range.

Moreover, price found resistance at 50 DMA and settled lower. In addition, momentum indicator RSI (14) is in bearish crossover.

For now, we expect prices to move lower towards 85.00 levels in the coming trading sessions.

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Choice International Ltd
Published on, 23/11/2017 11:02:00 AM

EURINR

Technical View:

Price has converged with the falling channel after it had failed to capitalize the channel breakout.

Moreover, price has failed to sustain above 50 SMA which is a indication of weakening trend.

Momentum indicator RSI (14) found resistance around the overbought zone.

For now, we can expect prices to fall towards the 75.20 levels in the coming trading sessions.

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Choice International Ltd
Published on, 23/11/2017 11:01:06 AM

USDINR

Technical View:

The pair started on a gap down note however paired the entire loss during the day. Price failed to move above the half way of previous session range.

Price found resistance at the 200 DMA and settled lower at the end of the session.

Momentum indicator RSI (14) found resistance around the overbought zone and fell below 50.

On the basis of above technical structure, we expect prices should move lower towards 64.50 levels in the coming trading sessions.

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Kedia Commodities
Published on, 23/11/2017 9:43:52 AM

JPYINR              

* JPYINR trading range for the day is 57.58-58.17.

* JPY remained flat as dollar traded in range as U.S. Treasury yields failed to rise despite increasing investor risk appetite in broader financial markets.

* BOJ's Kuroda: Desirable for FX to move in a stable manner & reflect economic fundamentals. Targeting 2% CPI leads to long-term FX stability

* BOJ's Kuroda: Will persistently continue powerful easing, there is still a long way to go to achieve 2% inflation target.

Kedia Commodities
Published on, 23/11/2017 9:43:40 AM

 GBPINR              

* GBPINR trading range for the day is 85.62-86.3.

* GBP remained in range as traders continued to monitor Brexit proceedings.

* British government borrowing unexpectedly grew last month, data showed, underscoring the challenge for Hammond.

* Britain’s Brexit minister David Davis said that reaching a deal was the most likely outcome of talks.

             

Kedia Commodities
Published on, 23/11/2017 9:43:21 AM

EURINR                

* EURINR trading range for the day is 75.9-76.63.

* Euro traded flat as dollar held weaker as investors debated the practical impact of a flat yield curve on global economic prospects.

* There are concerns over Eurozone geopolitical uncertainty which followed German chancellor Angela Merkel’s failure to form the country’s next government.

* Spain's foreign trade deficit decreased in September from a year ago, as exports grew faster than imports, preliminary figures from the Economy Ministry showed.