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Buy USDINR around 65.20 at stop loss of 64.90

Way2wealth | 12 Mar, 2018  | Follow Author | Add to my Favourites 
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For the second straight session the USDINR pair traded on positive note and ended near the day high of 65.29. As the pair has penetrated the flag pattern we expect the pair to continue its gains till the immediate resistance of 65.50 and higher. Thus we continue to recommend buying on minor dps around 65.20 levels for the day.

Action: Buy


On Friday, EURINR pair witnessed a massive decline after opening 80.75 and settled at 80.35 near the trend line support. The pair has once again come within the triangle pattern and the immediate resistance of the neckline is at 80.60, surpass above that will take the pair higher till 81.00 then 81.40 levels. Thus, we advise buying on break of 80.60 for the day.

Action: Buy


The GBPINR pair continues to witness stiff resistance around 90.70 levels of the rising trend line and it tumbled lower after testing the trend line and settled at 90.25 on Friday. The immediate support is at 89.90 break below that will provide further fall till key levels of 88.95; therefore, we continue to recommend selling on rise around 90.60 levels for targets of 89.80 and lower.

Action: Sell


On Friday the JPYINR pair opened with a gap down and tumbled till the low of 61.12 and finally ended at 61.19. According to the trend line the immediate support is at 60.95 and we expect the pair is likely to test these supports and thus we recommend selling around 61.30 levels for taegts of 60.95 for the day

Action: Sell

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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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