Way2Wealth has come out with its report on currencies. According to the research firm, one can Buy USDINR above 68.05 for the target of 68.49 with a stop loss of 67.79.
Way2Wealth's report on currencies
In the past session, pair broke out from the falling channel with a huge positive gap and ended well abo ve the same. Two more consecutive closes will confirm the bullish breakout that can take of 69. Daily MACD has started inchi positive zone.
Pair opened the session with a huge negative gap of more than 6 percent and after eroding around 10% it ended at 93.38 with a loss of 6.72%. This move has confirmed the bearish trend reversal in the pair.
EURINR violated the crucial support line in the past session but failed to end below the same which coul d have confirmed the bearish pattern. Daily MACD has turned the direction from up to down and now is on the verge of entering the negative zone.
Pair : USDINR
Action : Buy above
Entry : 68.05
Target : 68.49
Stop Loss : 67.79
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jun 27, 2016 10:16 am