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Buy USDINR: Prices likely to rise its previous swing high of 65.60 level - IndiaNotes.com
Buy USDINR: Prices likely to rise its previous swing high of 65.60 level
Way2wealth | Published: 25 Oct, 2017  | Source : IndiaNotes.com


USDINR: USDINR futures opened slightly lower with gap in the last session and prices corrected initially for first half of session till low of 64.93. Later prices recovered strongly for the remaining session till high of 65.14. Prices have bounced after retesting its breakout level of short term declining trend line and are expected to rise further from these levels towards next strong resistance placed around its previous swing high of 65.60 level. Action: Buy.


EURINR:
EURINR futures opened slightly higher in the last session and prices corrected for first half till low of 76.33. Later prices recovered strongly for the remaining session till high of 76.65. Previously prices have broken down from its descending triangle chart pattern and are expected to correct further from these levels towards next support placed around 23.6% Fibonacci retracement of its rally from low of 68.21 till high of 78.29, which is placed around 75.90 level. Action: Sell.


GBPINR:
GBPINR futures opened strongly higher with gap in the last session and prices corrected gradually for most of the session till low of 85.69. Prices recovered strongly near closing session and settled around 85.87 level. Prices have taken strong support at its rising trend line break out level currently placed around 85.70 level and are expected to rise from these levels towards immediate resistances placed around 86.40 and 86.60 levels. Action: Buy.


JPYINR: JPYINR futures opened higher with gap in the last session and prices corrected gradually for the whole session till low of 57.18. Prices have taken support around 78.6% Fibonacci retracement of its rally from low of 56.54 till high of 59.56, which is placed at 57.18 level. Prices are expected to hold this support and bounce towards immediate resistances placed around 57.75 and 57.90 levels. Action: Buy

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