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Buy USDINR: Prices expected to fall further towards immediate support of 63.38 level - IndiaNotes.com
Buy USDINR: Prices expected to fall further towards immediate support of 63.38 level
Way2wealth | Published: 23 Jan, 2018  | Source : IndiaNotes.com

USDINR: USDINR futures opened slightly higher in the last session and prices rose initially till high of 64.05. Later prices corrected for most of the session and closed around 63.91 level. Previously prices have corrected after retesting its rising trend line breakdown and are expected to fall further from these levels towards immediate support placed around its recent bottom of 63.38 level. On the higher side immediate resistances are placed around 64.15 and 64.45 levels. Action: Sell.

 

EURINR: EURINR futures opened slightly lower with gap in the last session and prices corrected for first half of the session till low of 78.09. Prices recovered strongly for the remaining session and closed flat around 78.35 level. Prices have broken and closed above its last 2 year’s high of 78.29 for the previous few sessions. Prices are expected to rise further from these levels towards immediate resistance placed around its recent high of 79.00. Action: Buy.


GBPINR: GBPINR futures opened slightly lower with gap in the last session and prices corrected for first half of the session till low of 88.60. Prices recovered strongly in the second half and closed positive around 88.87 level. Prices have been rising strongly since last seven sessions after breaking out from its short term declining trend line resistance and are expected to rise further from these levels towards next strong resistances placed around 89.35 and 89.55 levels. Action: Buy.


JPYINR:
JPYINR futures opened flat in the last session and prices corrected for first half of the session till low of 57.56. Prices recovered gradually for the remaining session and closed around 57.73 level. Prices have recovered after taking strong support around break out level of its short term falling trend channel pattern and are expected to rise further from these levels towards next strong resistance placed around its previous swing high of 58.32. 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.