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USDINR: Sell on the rise around 63.65

Way2wealth | 08 Jan, 2018  | Follow Author | Add to my Favourites 
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USDINR: On Friday, USDINR pair remained on sideways note and ended flattish at 63.51. As the pair breaching key support of 63.74 has turned the outlook to bearish thus we advise selling on the rise around 63.65 for immediate targets of 63.20 then 63.00 levels for the day. Action: Sell.


EURINR: In line with expectation EURINR pair witnessed stiff resistance around 76.80 of the downward slanting trend line and declined till the low of 76.60 and finally ended at 76.64. Now the immediate supports are seen at 76.20 then 75.86 levels. Therefore, we recommend selling around 76.70 for above mentioned targets. Action: Sell.

For the fifth straight day the GBPINR pair continued to trade on a bearish note and has almost come down till the trend line support. Ahead, breakdown of 85.80 will provide further decline till 85.52 then 85.20 levels. Thus, we recommend selling on break of 85.80 for the targets of 85.50 then 85.20. Action: Sell.

JPYINR pair finally gave the breakdown of the triple bottom supports and has declined till 56.12 and finally ended at 56.17. The breakdown of key support has turned the outlook to bearish and therefore we recommend selling around the key breakdown level resistance of 56.40 for targets of 55.70 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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