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EURINR: Sell around 76.40 for support levels of 75.85

Way2wealth | 10 Jan, 2018  | Follow Author | Add to my Favourites 
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USDINR: On Tuesday, USDINR surged higher by penetrating the key breakdown resistance of 63.74 and edged till the high of 63.87 and ended at 63.84. Therefore 63.74 has once again turned into the immediate support and as long as it holds above that pull back can noticed till 64.10 then 64.30. Action: Buy.


EURINR: As expected EURINR pair declined lower till 76.13 during yesterday, but it managed to recover by the ended and finally ended at 76.26. On the lower side the trend line support is around 75.85 and we expect the pair is likely to test these support and may re-bounce from those levels. Therefore, we continue to recommend selling around 76.40 for support levels of 75.85. Action: Sell.

After taking the supports of the rising trend line the GBPINR pair inched slightly higher and ended at 86.19 forming doji candlestick. The Pair is moving within the narrow range of the triangle pattern and ahead, it is likely to re-bounce till the upside trend line resistance of 86.75 levels in the coming sessions. Hence, we recommend buying around 86.15 for above mentioned targets. Action: Buy.

On Tuesday, JPYINR pair reclaimed higher sharply by breaching triple bottom break down resistance of 56.53 and ended at 56.67. The Pair almost rose till the falling trend line resistance and surpass above that will change the trend to positive. Thus, we recommend buying on a break of 56.80 for targets of 57.17 then 57.25. 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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