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USDINR

Strategy for coming week

Sell below 81.30

Stop Loss @ 82

View: Neutral Target @ 80.30

View for the pair is neutral and if the pair break below 81.30 it is likely to see 81 and 80.30 levels on the downside.

Technical Outlook on Rupee

• USDINR pair on the weekly chart price made a doji pattern with longer shadow on both side denoting high volatile move. On the daily chart pair made a four day low . Momentum indicators RSI has given a negative cross over and is heading lower thus confirming deep in momentum.

• If pair break below 81.30 could see prices heading towards 81 and 80.30 on the downside . On the other hand, break above 82 would see pair testing 82.30 and 82.50 on the downside.

EURINR

Strategy for coming week

Sell below 79.80

Stop Loss @ 80.70

View: Bearish

Target @ 78.65

View for the pair remains Bearish if the pair break below 79.80 it is likely to see 79.30 and 78.65 levels on the downside

Technical Outlook on EURINR

• EURINR pair on the weekly chart trading in a lower tops and lower bottom formation and made a candle with longer shadow on both side denoting high volatile move. On the daily chart pair prices notice a pullback rally but failed to closed above the 20 and 50 SMA denoting are still in a bearish trend.

• Momentum indicators RSI is reverting back after hitting the resistance confirming the failure to the pullback in prices.

• From the below observation we can conclude that if prices break below 79.80 pair could test 79.30 and 78.65 on the downside . On the other hand break above 80.70 could see pair testing 81.15 and 81.60 on the upside.

GBPINR

Strategy for coming week

Sell below @ 90.30

Stop Loss @ 91.75

View: Bearish

Target @ 86.75

View for the pair is bearish a break below 90.30 would push prices towards 88.25 and 86.75 on the downside.

Technical Outlook on GBPINR

• GBPINR pair on the weekly chart trading in a lower tops and lower bottom formation and made a candle with longer shadow on both side denoting high volatile move. On the daily chart pair prices notice a pullback rally but failed to closed above the 20 and 50 SMA denoting are still in a bearish trend.

• Momentum indicators RSI is reverting back after hitting the resistance confirming the failure to the pullback in prices.

• If pair break below 90.30 could see prices heading towards 88.25 and 86.75 on the downside . On the other hand, break above 91.75 would see pair testing 92.30 and 93.45 on the upside.

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