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Buy USDINR around 65.10 at stop loss of 64.90

Way2wealth | 07 Mar, 2018  | Follow Author | Add to my Favourites 
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After opening with a gap down at 65.11 USDINR pair reclaimed higher from the key supports of 61.8% retracement till 65.28 but in the late session it once again turn lower and finally settled on flat note at 65.12. Pair has ended just above the 61.8% support and as long as it holds above that upside move is likely to continue till the swing high of 65.67 then 65.90.

Action: Buy


EURINR finally gave a break out triple top formation as well as ascending triangle pattern neckline during yesterday’s session and finally ended at 80.70. As the pair has given fresh bullish break out so we expect it to continue the gaining streak for upside targets of 81.00 then 81.50 levels and advise buying around 80.60 levels for the day.

Action: Buy


GBPINR pair extended its gains and once again inched till the trend line resistance of 90.48 and ended at 90.44. The pair is still trading below the trend line and is not giving clear bullish sighs. Thus, we continue to recommend selling around 90.50 for targets of 89.80 for the day.

Action: Sell


On Tuesday, JPYINR pair opened lower with a gap down at 61.49 and tumbled further till the low of 61.22 and finally ended at 61.31. The overall trend is still looking positive, however minor corrections can be seen till the immediate supports of 38.2% retracement level of 61.02 and recommend buying on dips around 61.02.

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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