IGI Logo

USDINR Outlook

The USDINR pair closed lower by 0.39% during the previous week in the spot segment. Prices are facing stiff hurdle around the 80.10 mark in the spot market, corresponding to the 80.20 mark in the September futures contract. On the lower side, 79.50 followed by the 79.20 mark remains the key support for the pair. Biasness for this week remains sideways to bearish. As a strategy, short positions are advised on some rise around the 79.90 mark for lower side targets of 79.50 and then 79.00 mark, keeping stop loss at the 80.15 level.

USDINR SPOT Chart (Weekly)

EURINR Outlook???????

After a week of consolidation, the EURINR pair witnessed recovery from lower levels and closed with gains of 0.48% (spot) in the previous week. Short term trend for the pair remains positive as the pair is trading above the crucial daily support of 80.60 in the September futures contract. On the higher side, 81.50 followed by the 82.00 mark remains the key resistance. Considering the structure, long positions are advised on dips around the 80.60 mark for upside target of 81.50, keeping stop loss at 80.30 mark.

EURINR Spot Chart (Weekly)

GBPINR Outlook???????

er three weeks of consecutive decline, the GBPINR pair closed the previous weeks with gains of 0.34% in the spot segment. In the September futures contract, the pair has formed a double bottom pattern at 91.50 mark on hourly charts with a crucial hurdle at 93.50 mark. Short term support remains around the 92.50 mark. Considering the price action, long positions are advised on dips around the 92.50 mark for upside target of 94.00, keeping stop loss at 92.15 mark.

GBPINR Spot Chart (Weekly)

JPYINR Outlook

The JPYINR continued to slide for the fourth consecutive week and closed with losses of 2% in the spot segment. In the September futures contract, the pair can be seen forming a base around the 55.50 mark with key hurdle around the level of 56.30. After the recent fall, the pair is likely to witness a rebound in coming days. Long positions are advised on dips around the 55.50 mark for the upside target of 56.30, keeping stop loss at 55.25 mark.

JPYINR Spot Chart (Weekly)

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer