JPYINR traded lower for entire week against a basket of major currencies; where pair has slipped below 21 DEMA. On the daily chart, JPYINR has retreated form upper Bollinger band formation; which act as immediate resistance for the pair and suggest further correction in near term. A momentum indicator RSI (14) has turned from overbought zone with negative crossover; which initiate profit booking on higher levels. So based on the above technical structure and indicator, we expect bearish movement towards 61.25.
GBPINR traded range bound after the opening on a positive note. On a weekly chart, GBPINR has given trend line breakout and sustained above it; which suggest more strength in the pair for near term. On the daily chart, Pair has shifted above 21 days DEMA; which support the prices to move upward. Moreover, A momentum indicator RSI (14) and MACD is in bullish direction with positive crossover. As per the above technical structure, we are expecting bullish movement in the prices towards 91.70 levels.
On the daily chart, EURINR has moved upward after taking a support of 200 & 21 DEMA on daily chart; which indicate bullish sentiment for near term. Over all, pair has been moving within a rising channel formation, which will continue the rally on upside. Moreover, RSI (14) has moved above the close line ; which is positive sign for the pair. Based on the above technical studies or indicator, we expect bullish movement in the prices towards 81.60 levels.
USDINR rebounded on Wednesday after showing a long correction in previous trading sessions. On the daily chart, pair has been moving within a rising channel formation and near the Bollinger pattern; where it has tested a support of lower band and revived from there, which shows positive strength in the pair. On the other hand, a momentum indicator RSI (14) has indicated positive crossover on daily chart. On the above technical studies & parameter, we are expecting bullish move in the prices towards 66 levels.AFTER POST CONTENT
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