USDINR: Weakness in the counter
USDINR
USDINR ended below the uptrend line support, on the daily chart. This indicates weakness in the counter. Moreover, breakdown below 55.4 will complete the double top chart pattern. Projected target according to which is around 53.5 levels.
Recommendation
Action: Sell
Entry: 55.4
Target: 53.5
Stop: 56.05
EURINR
EURINR in the past week tested the stiff resistance line, visible on the charts. Prices ended with the bearish candle, indicating some correction from current levels.
Recommendation
Action: Sell
Entry: Below 68.5
Target: 67.5
Stop: 69.11
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Reader's Comments
Discussion
24th May 2013 | 07:00 am
Currency : usdinr -55.7975 -www.indiancurrencyfutures.com
23rd May 2013 | 05:35 am
Currency : usdinr tips (23-May)-www.indiancurrencyfutures.com