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Buy USDINR around 64.90 at stop loss of 64.65

Way2wealth | 06 Mar, 2018  | Follow Author | Add to my Favourites 
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In  the  last  session  USDINR  pair  traded  in  the  narrow range  and  ended  with  minor  gains  at  65.37.  On  the daily  chart  pair  is  moving  along  with  the  rising  trend channel  and  according  to  that  the  immediate  support is  at  65.18  and  moving  forward  the  pair  is  likely  to extend  its  gains  till  the  intermediate  swing  high  of 65.67  levels.  Thus,  we  recommend  buying  around 65.35 levels for targets of 65.65 levels for the day.

Action: Buy


After  almost  making  triple  top  formation  EURINR  pair opened  slightly  lower  at  79.88  by  breaching  the immediate  trend  line  support  during  last  session.  The pair  giving  bearish  breaks  down  for  the  short  term trend  line  likely to  correct the pair till the supports of 79.00  then  78.30  levels  in  coming  sessions.  Thus,  we recommend selling around 79.75 for down side targets of 79.35 then 79.00 levels for today’s sessions

Action: Buy


On Monday GBPINR pair opened on flat note and inched slightly higher and ended almost near the day high of 90.35. The pair is still trading below the trend line and the resistance of the same is around 90.50. Hence the trend is still looking weak and we expect the pair to slip lower till the supports of 88.90 levels in coming sessions. Thus we recommend selling around 90.40 for targets of 89.80 then 89.50 for the day.

Action: Sell


In line with expectation JPYINR pair extended its gain by opening with a gap up at 61.84 and it finally ended at 61.86 forming doji candle stick. The next resistance of 50% retracement is at 62.49 and we expect the pair to test the resistance in coming sessions. Therefore, recommend buying on dips around 61.37 for the day.

Action: Buy

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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