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Sell USDINR: Prices are expected to correct further - IndiaNotes.com
Sell USDINR: Prices are expected to correct further
Way2wealth | Published: 27 Dec, 2017  | Source : IndiaNotes.com

USDINR: USDINR futures opened slightly lower in the last session and prices recovered for the whole session till high of 64.11. Prices have been consolidating in a range of 64.01-64.15 levels since last few sessions after breaking down from its short term rising trend line support. Prices are expected to correct further from these levels if break below this range towards next strong support placed around its previous bottom of 63.74 level. Action: Sell.

 

EURINR: EURINR futures opened slightly higher with gap in the last session and prices consolidated for the whole session in the range of 75.96-76.10 levels. Prices have been moving in a sideways mode since last two weeks after correcting from strong resistance of its short term declining trend line. Prices are expected to correct further from these levels if break below its immediate support of 75.88 towards next strong support placed around its recent low of 75.54. Action: Sell.


GBPINR:
GBPINR futures opened flat in the last session and prices corrected slightly in the whole session till low of 85.61. Prices have been correcting gradually since last few sessions after breaking down from its strong support of short term rising trend line. Prices are expected to correct further from these levels towards immediate support placed around 85.30 level. On the higher side immediate resistances are placed around 85.80 and 86.05 levels. Action: Sell.


JPYINR: JPYINR futures opened flat in the last session and prices traded for the whole session in the range of 56.53-56.62 levels. Prices have taken strong support around its previous bottom of 56.48 level after breaking down from its multiple bottoms rising trend line support. Prices are expected to fall further from these levels if break below its recent low of 56.44 towards next strong support placed around 55.60 level. 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 IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.