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Published on 16/08/2019 10:07:40 AM | Source: Choice Broking Pvt Ltd

GBPINR has recovered after made a low of 85.58 and closed the day at flat note - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* USDINR has opened in loss of 0.70% but during the day it got recovered and settled near the prior close.

* On the daily chart, USDINR has taken a support of falling trendline and pulled back from there, which indicates continue buying strength in the counter.

* Moreover, pair has sustained above 200 days Simple Moving Averages, which suggest long term trend may remain bullish.

* Furthermore, a momentum indicator RSI (14) and MACD is in bullish mode, which support the bullish trend.

* Hence, we expect upside move in USDINR future towards 71.82 level.

 

JPYINR

Technical View:

* JPYINR has decreased more than 1% during the Wednesday session.

* On a weekly timeframe, pair has been rising continuously from last couple of weeks and trading above falling trendline.

* Moreover, pair has moved above upper Bollinger Band formation , which shows more strength in the prices.

* A momentum indicator RSI and MACD has shown positive crossover on a weekly chart.

* So based on the above technical structure, we expect bullish move in JPYINR future towards 67.70 level.

 

GBPINR

Technical View:

* GBPINR has recovered after made a low of 85.58 and closed the day at flat note.

* On the daily chart, pair has sustained above the trendline and 21 days SMA , which indicates bullish sentiments for near teem.

* Moreover, a momentum indicator RSI (14) and MACD has indicated positive crossover, which may support the prices to move upward.

* In additions, pair has also moved above Parabolic Sar indicator, which suggest upside rally in the prices.

* So based on the above technical structure we expect bullish move towards 86.80 level.

 

EURINR

Technical View:

* EURINR has slipped by 0.35% on Wednesday session and settled below the prior close.

* On a weekly scale, pair has consolidated above the trendline breakout and near upper Bollinger band.

* Moreover, pair has moved above 100 weeks SMA, which indicates bullish strength for long term.

* Furthermore, a momentum indicator RSI (14) and MACD is in positive zone with positive crossover.

* So based on the above structure, we expect further upside towards 80.30 level.

 

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