October 22, 2016

Mtechtips MCX-SX USDINR INTRADAY trading analysis 08-08-2016
MTECHTIPS USD-INR continued its recent slightly bearish trend and settled at 67.00 compare to previous close of 67.29 levels. The upper house of the Parliament has passed the long-pending Goods and Service Tax (GST) Bill on Wednesday which contributed selling activities in the pair. Adding to this, higher than expected quantitative easing by the Bank of England to mitigate the impact of Brexit also added weakness in the USDINR. Technically, symmetrical triangle break down was noted on the weekly chart which is indicating for correction towards 66.50 and below. On the other hand, massive resistance likely to seen at 67.85 and a break above only will expect to test 68.25-68.55.


Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.