Buy USDINR around 64.90 at stop loss of 64.65 Currency calls | Forex Trading | IndiaNotes.com
In the last session USDINR pair traded in the narrow range and ended with minor gains at 65.37. On the daily chart pair is moving along with the rising trend channel and according to that the immediate support is at 65.18 and moving forward the pair is likely to extend its gains till the intermediate swing high of 65.67 levels. Thus, we recommend buying around 65.35 levels for targets of 65.65 levels for the day.
After almost making triple top formation EURINR pair opened slightly lower at 79.88 by breaching the immediate trend line support during last session. The pair giving bearish breaks down for the short term trend line likely to correct the pair till the supports of 79.00 then 78.30 levels in coming sessions. Thus, we recommend selling around 79.75 for down side targets of 79.35 then 79.00 levels for today’s sessions
On Monday GBPINR pair opened on flat note and inched slightly higher and ended almost near the day high of 90.35. The pair is still trading below the trend line and the resistance of the same is around 90.50. Hence the trend is still looking weak and we expect the pair to slip lower till the supports of 88.90 levels in coming sessions. Thus we recommend selling around 90.40 for targets of 89.80 then 89.50 for the day.
In line with expectation JPYINR pair extended its gain by opening with a gap up at 61.84 and it finally ended at 61.86 forming doji candle stick. The next resistance of 50% retracement is at 62.49 and we expect the pair to test the resistance in coming sessions. Therefore, recommend buying on dips around 61.37 for the day.
Click here to read the full report