Dollar rupee weekly forecast 17 to 21 March 2014

Dollar rupee weekly forecast, predictions,  price analysis, technical analysis,charts and tips for 17 to 21 March 2014. 

Dollar rupee daily chart technical analysis

Dollar rupee spot on last trading session closed at 61.22 with loss. On daily chart, USDINR price trend and momentum both down as US dollar remain soft worldwide. Prices are trading below month and 3-month average with recovery patterns on indicators. For next week, 61.6 and 61.9 are strong resistance level while on downside 61 and 60.6 are support as well as target zones.

By risk reward view, going short near resistance with strict stop loss will be best USD INR trading strategy for the week.

Dollar rupee weekly chart technical analysis

Dollar rupee spot this week closed with flat loss. On weekly chart, USD INR price trend is bullish but momentum-turning weak as profit booking hit the market. Pair still trading above its 12-month average of 60.2 and below that 57.5 is its 2 years average zone and major long term support zone. On upside 61.6 is 6 month average zone and strong resistance and above that 62.8 will be next major resistance level of previous top.

Weekly chart indicators pattern are bearish and suggesting in upcoming weeks US dollar continue its correction and test major support levels on downside.

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.
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