Indian rupee weekly report for 7 to 11 dec. 2015

Indian rupee weekly report for 7 to 11 dec. 2015

Usd inr future this week closed with a loss. This week usdinr future high was around 67.26 while low was at 66.71. Total almost 1% price swing saw in this week and topping out signals for us dollar.

On the downside, 66.5 and 66 are support zones as well as target levels for next week. On the upside, 67.2 and 67.7 are resistances as well as fresh short selling opportunities in US dollar.

Eur inr future this week given sharp rally on short covering as fundamental change for euro currency. On weekly chart euro touched major average and closed below it so look like it is a just technical bounce back. Primary trend still down for euro and his is a best shorting opportunity with stop loss. On the downside, 72.3 and 71 support zones as well as target zones for euro rupee future for next week. On the upside, 73.55 is strong resistance as well as fresh short entry zone.

Gbp inr future this week closed at 101.17 with gain. This week pound hit new weekly high as rupee slips to a fresh low. On the weekly chart, the pound is in a strong uptrend and might touch previous high above 102. On the downside, 100.45 and 99.25 support zones. This week, we saw low near 99.78, but sudden reversal rally triggered on major fundamental change from ECB. 100.45 is trailing stop loss for long traders.

Jpy inr future this week closed at 54.53 with the loss. As expected yen facing strong supply from the market on every rise. Yen after touching high near 55 faced strong supply and given correction up to 54.2. On the downside, 54 and 53.4 support zones and yen rupee future might test them in next week. 54.9 is top and remain as strong resistance as well as fresh short entry zone.

0 comments :

Post a Comment