Published on 19/07/2019 11:06:39 AM | Source: Choice Broking Pvt Ltd

USDINR has closed in positive note with the gain of 0.14% - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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Technical View:

* On the daily timeframe, USDINR has closed in positive note with the gain of 0.14% .

* Moreover, pair has shifted above 21 days SMA’s and supportive trendline at 68.5, which adds more strength for bullish trend in upcoming session.

* In addition, momentum indicator RSI(14) has sustained near 48.5 levels and another lagging indicator MACD has shown positive crossover, which further witnessed bullish move in the price.

* So based on the above structure, we expect up side move towards 69.25 in USDINR for the day.



Technical View:

* On the daily timeframe, JPYINR has gained 0.44% in the previous trading session.

* Moreover, price has given a breakout to previous trading day high at Rs. 63.87 and continued bullish movement since few trading session.

* Moreover, price has shown a breakout from 200 days SMA’s and upper Bollinger band, this formation is adding more strength for bullish movement in the pair.

* In addition, an oscillator MACD and momentum indicator RSI (14) have shown positive crossover, which have witnessed further upside movement. So, we expect a positive level towards, Rs. 64.20 in near term.



Technical View:

* GBPINR has closed with the gain of 0.77% in the previous trading session .

* On the daily chart, price has taken a support from falling trendline at Rs. 85.31 and pulled back from there towards day high at Rs. 86.27.

* Furthermore, an oscillator MACD has shown positive crossover and a momentum indicator RSI (14) has shown a exit from oversold region.

* Hence, Based on above technical structure we expect bullish movement towards 86.50 level in GBPINR future.



Technical View:

* On a hourly chart, EURINR has gained 0.13% in the previous trading session.

* Moreover, price has shown positive breakout from upper Bollinger band and also it has sustained above 21*50 days SMA’s

* Moreover, an oscillator MACD has show positive crossover and it has shifted above zero line, another momentum indicator RSI(14) has also sustained above the level 67.5, which have added more strength for continuation of bullish movement in the counter.

* On the basis of above structure, we expect further negative move from some peaks in Pair towards 77.85 level.


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