Buy USDINR around 65.10 at stop loss of 64.90 | Intraday | Forex Trading | IndiaNotes.com
As expected the USDINR pair opened with a gap up down at 65.17 and made low of 65.05 and from there it recovered slightly and ended at 65.14. Pair is witnessing supports around 61.8% retracement of 65.00 mark. Therefore the 65.00 mark will holds as immediate support and the overall trend still look positive and recommend buying around 65.10 for upside targets of 65.50 levels.
The EURINR pair failed to surpass the previous high of 80.60 and tumbled sharply lower and finally ended at near the day’s low of 80.21. The immediate trend line support is at 80.12, break below that will provide bearish break down for down side levels of 79.56 then 78.80 levels. So, traders are advised to sell on break of 80.10 for downside targets of 79.50 then 79.30 for the day
Followed with stiff resistance of the rising trend line, GBPINR pair continued to trade below that, but it is managing to hold above 90.00 mark for last few sessions. Break down below 90.00 mark will provide further pressures on the pair and while on the higher side the trend line resistance remains intact. For the day, we continue to recommend selling around 90.60 for down side targets of 90.00 then 89.60 levels for the session.
In line with expectation JPYINR pair tumbled till the low of 61.00 in the initial hours and in the second half it managed to recover and finally ended at 61.19 forming a Doji candle stick pattern. According to the trend line the immediate support is at 61.00 mark and we expect pair to rebound from these levels and recommend buying around 61.10 for upside targets of 61.52 and higher.
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