Published on 23/07/2019 10:45:13 AM | Source: Choice Broking Pvt Ltd

GBPINR has moved down by 0.38% on Monday trading session - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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Technical View:

* The Dollar were slightly positive against Indian Rupees on Monday session and closed with total gain of 0.22%.

* On the daily timeframe, USDINR has recovered from the lower levels and managed to sustained above 69 levels.

* Moreover, pair has found the support at lower Bollinger band and pulled back from there.

* In addition, momentum indicator RSI(14) has turned higher with positive crossover, which point out further bullishness.

* So based on the above structure, we expect moderate bullish move in USDINR towards 69.35 levels.



Technical View:

* JPYINR has traded in narrow range on Monday trades and closed at flat note.

* On the daily scale, pair has been trading between two consecutive trendline.

* Moreover, price has sustained above 21*50 days SMA, which shows more bullishness in near term.

* In addition, a momentum indicator RSI (14) has shown positive crossover, which may keep the prices upside.

* So based on the above structure, we expect a positive move towards 64.40 levels.



Technical View:

* GBPINR has moved down by 0.38% on Monday trading session.

* On the daily chart, pair has retreated from upper band of Bollinger formation, which act as resistance zone for the prices.

* Moreover, Pair has traded below 21*50 days SMA, which indicates bearish move in the counter.

* So based on above technical structure we expect moderate bearish movement towards 85.72 in GBPINR future.



Technical View:

* On the daily chart, EURINR has settled on negative note with slightly loss of 0.05% on Monday session.

* Moreover, price has faced resistance from upper Bollinger band and also it has closed below 21*50 days SMA’s

* Moreover, a momentum indicator RSI(14) has moved below the level of 50 and another indicator William% R is at negative zone , which have added more strength for continuation of bearish movement in the counter.

* On the basis of above structure, we expect further negative move from some peaks in Pair towards 77.05 level.


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