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Last Updated : Jun 27, 2016 10:16 AM IST | Source:

Buy USDINR above 68.05; target of 68.49: Way2Wealth

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.

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 are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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First Published on Jun 27, 2016 10:16 am
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