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Published on 26/04/2019 9:48:36 AM | Source: Choice Broking Pvt Ltd

USDINR has recovered at the time of closing and settled near the previous day close - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USDINR has recovered at the time of closing and settled near the previous day close.

On a daily chart, price has moved above 21 days SMA on the daily chart , which signifies bullish sentiments in the counter.

Moreover, pair has taken Rising Trend line support , which indicates that bullish sentiments in the counter.

Furthermore, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart.

So based on the above analysis, we expect bullish movement in USDINR towards 70.80 level.

 

JPYINR

Technical View:

JPYINR opened gap up and continued the trades on positive note on Thursday.

On the daily chart, pair has still been trading above Rising trend line, which indicates further upside for near term.

Moreover, price has moved above 21 days SMA on the daily chart , which signifies bullish sentiments in the counter.

Furthermore, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart.

So based on the above technical aspects, we expect bullish movement in JPYINR towards 63.60 level.

 

GBPINR

Technical View:

GBPINR has traded in both direction and settled flat on Thursday.

On a daily chart, Pair has found the support at lower Bollinger Band formation and sustained there.

Moreover, pair has taken Rising trend line support, which indicates that sentiments are still bullish.

Furthermore, a momentum indicator MACD has shown positive crossover on the daily chart.

Hence, we expect sideways to bullish movement in GBPINR towards 91.50 level.

 

EURINR

Technical View:

EURINR has traded in both direction and settled flat on Thursday.

On an hourly chart, Price has found the support at lower Bollinger Band formation and shifted into positive zone after a long correction .

Moreover, price has moved above 21 days SMA on the daily chart ,which signifies bullish sentiments in the counter.

In addition, a momentum indicator RSI (14) has shown positive crossover on an hourly chart.

So based on the above studies, we expect bullish movement in EURINR future towards 79.10 level.

 

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