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USDINR: Buy around the immediate support level of 63.60 - IndiaNotes.com
USDINR: Buy around the immediate support level of 63.60
Way2wealth | Published: 30 Jan, 2018  | Source : IndiaNotes.com

USDINR: On Monday USDINR pair opened with a gap up at 86.80 and from there it slipped till the low of 63.68. In the second half it slowly recovered and finally ended at 63.78. Pair has almost made a triple bottom and is reclaiming from those levels along with huge indicates strong buying at lower levels. For the day, the immediate support is at 63.60 and we recommend buying around these levels for upside targets of 63.90. Action: Buy.

 

EURINR: For the third straight session the EURINR pair traded on positive note. Pair made high of 79.33 and finally ended at 79.18 forming a inverted hammer pattern. At present the previous high of 79.08 holds as key support and as long as it remains above that the bullish trend remains intact. So, buying can be initiated around 79.16 for upside targets of 79.50 and higher. Action: Buy.


GBPINR: After experiencing massive gains in the prior sessions, GBPINR opened with a gap down on Monday at 90.37 and from there is gradually declined lower and finally ended almost near the day’s low of 89.85. Pair has penetrated immediate trend line support and is likely to draw down till the next supports of 88.70 levels in coming sessions. Thus, we recommend selling below 89.75 for targets of 89.30 the 89.00 for the day. Action: Sell.


JPYINR: JPYINR pair once again opened with a gap up and surged till the high of 58.75 and ended at 58.69. Currently prices are heading towards the immediate resistance of 58.78 and surpass above that will extend the rally towards the swing high of 59.60. Thus we recommend buying on break of 58.80 for intraday targets of 59.15 then 59.30 for the day. 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.