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USDINR

Strategy for coming week

Sell below 74.30 Stop Loss @ 74.90 View: Bearish Target @ 73.80

Technical Outlook on Rupee

* Pair made two months low and on the weekly chart pair continued its bearish momentum and closed below the previous weeks low . On the daily chart pair has continued to trade in lower top lower bottom formation closed below the 20 SMA and 50 SMA confirm the bearish trend. Momentum indicators RSI has given a negative crossover and are heading lower denoting bearish momentum to continue.

* Break below 74.30 could see prices heading towards 74 and 73.80 and on the upside 74.90 remains a strong resistance. Break above the same could see prices testing 75.30 and 75.50

EURINR

Strategy for coming week

Sell below 84.15 Stop Loss @ 84.90 View: Bearish Target @ 83

GBPINR

Strategy for coming week

Buy above @ 100.85 Stop Loss @ 100.50 View: Neutral Target @ 101.80

Technical Outlook on GBPINR

• On the weekly chart pair is trading in the range 99.50 and 101.80 past seven week and this week candle made a higher lower shadow denoting buying at lower levels. On the daily chart prices are trading below 50 SMA confirm the bearish momentum in medium term.

• Momentum indicators RSI has flattened out confirming the sideways trend

• Break above 100.85 could see prices heading todays 101.05 and 101.80 on the upside. On the flipside break below 100.50 which could see the pair testing 100.10 and 99.75 on the downside

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