Way2Wealth has come out with its report on currency. According to the research firm, one can sell USDINR for the target of 67.00 with a stop loss of 67.60
Way2Wealth's report on currency
USDINR Feb futures have been falling after breaking down from its symmetrical triangle chart pattern. Prices have broken below its previous swing low and 61.8% Fibonacci retracement level of 67.42. Prices are expected to fall further towards next strong supports placed at its previous tops around 67.23 level and further at its 78.6% Fibonacci retracement level of 67.00. On the higher side strong resistances are placed at 67.40 and 67.60 levels.
Pair : USDINR
Action : Sell
Entry : 67.40
Target : 67.00
Stop Loss : 67.60
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First Published on Feb 7, 2017 10:28 am