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Published on 25/04/2019 10:07:56 AM | Source: Choice Broking Pvt Ltd

USDINR opened gap down and continued the trades on positive note on Wednesday - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USDINR opened gap down and continued the trades on positive note on Wednesday

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 70.30 level.

 

 

JPYINR

Technical View:

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

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 62.80 level.

 

GBPINR

Technical View:

GBPINR opened gap down and continued the trades on negative note on Wednesday.

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 90.80 level.

 

EURINR

Technical View:

EURINR opened gap down and continued the trades on negative note on Wednesday.

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 78.90 level.

 

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