currency weekly tips for 28 sep to 2 oct 2015

Euro rupee future this week closed with loss. This was second losing week for euro on profit booking. On weekly chart euro is in uptrend against inr but momentum is bearish due to continue profit booking which might continue in next week.
72.7 And 72.5 are major average support on weekly chart and euro might test them in upcoming weeks. On upside 74 and 75.2 are strong resistances as well as stop loss levels for traders. If Indian equity market sees in flow then expect euro downside up to 70.5 rupee in longer terms.

NSE pound rupee future this week closed with loss. For gbp also this was second weekly loss against these 2 weeks we almost seen 3 rupee drop for pound future. On weekly chart gbpinr future price trend is up but momentum clearly I bears hand on continues profit booking. On downside 100.3 is 100.3 is 20 weeks ema level and below it 98.6 will be 50 weeks ema level and both will be support as well as target zones for this correction wave. Weekly chart RSI had given sell signal at 103 and still continues with that. For next week 100.1 will be first stop level and if slips below it then another major breakdown will happen in pound in medium term might show 97 level on downside.

NSE yen rupee future this week closed with gain. After 2 weeks correction yen taken support around 54.5 and heading towards top. This week dip look like bear trap for short seller and which might boost upcoming week’s rally by simple short covering due to fear. On upside 55.5 and 56.4 are strong supply zone and it will not easy to cross them without volume support. Average support are way down around 52-53 zone. 54.55 is trailing stop loss level for long side traders and yen next week target will be 55.4 and then 56.9.

NSE dollar rupee future this week closed with gain. Here also same price pattern like yen but on upside there are multiple resistances congestion zone which will not be easy to cross for dollar. Only some kind of panic or spurt in dollar index will take those resistance. On weekly chart usd is in absolute uptrend but correction is due and expect momentum to remain lackluster on profit booking.
On upside 66.6 and 67.2 are strong resistances and on downside 65.55 and 64.9 are strong support zones as well as medium term targets for usdinr future.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
COPYRIGHT © 2009-2018. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.