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Buy USDINR: Pair expected to revert back from key support levels - IndiaNotes.com
Buy USDINR: Pair expected to revert back from key support levels
Way2wealth | Published: 16 Nov, 2017  | Source : IndiaNotes.com

USDINR: As expected USDINR pair witnessed stiff resistance around 65.70 levels of the slanting trend line and tumbled till the immediate supports of 65.27 and ended at 65.33. Pair has come down till the key neckline supports and this is likely to hold as key support for the day and we expect pair will revert back from these levels and thus recommend buying around 65.25 for the targets of 65.70. Action: Buy.


EURINR: On Wednesday, EURINR pair extended its gains and rose till the high of 77.47 and ended at 77.36. On the higher side the immediate resistance is at 77.58 mark, ahead pair is likely rise till theses resistance and we advise buying on corrections around 76.80. Action: Buy.


GBPINR:
As expected GBPINR pair continued to trade within the narrow range by witnessing stiff resistance around 86.25. Surpass above that will provide a fresh bullish break out. As long as it holds below 86.25 a minor correction is likely to be seen till 85.30. Therefore, we recommend selling around 85.95 with strict stop loss at 86.30 mark for downside targets of 85.30. Action: Sell.


JPYINR: JPYINR opened higher with a gap and surpassed its previous high of 57.91 and eventually ended near the highest point of the day. At this juncture, pair closed tad above the daily 89-EMA. The daily RSI (14) struggling near 60 levels. 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 IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.