Eur inr future bottomed out targets 71.65-73.7
Euro rupee future this week closed with loss. This was third losing week for euro future. This week we saw 75 paisa range and flat negative closing on weekly chart which suggesting reversal for euro and downside for rupee. For next week, eur inr future outlook remain bullish and strategy remain buy on dips. On upside 71.65 will be first swing target and then 73.7 will be next target zone for euro against rupee. From long term view, euro entered into downtrend against rupee and below 72 rupee on weekly basis remain sell for target 66.55.
Gbp inr hit low 83.11 tgt given 82.9
Pound rupee future this week closed with loss at 83.23. This was third weekly loss for sterling against rupee and in these 3 weeks it lost almost 4 rupee from its value. This week we saw 1.5 rupee range and negative closing for pound. Pound on upside hit my given target of 87 and then corrected up to 84.45 and then fresh breakdown below 84.45 set target of 82.9 and we already saw low of 83.11 in this week. For next week, gbp inr future outlook remain weak and expect 82.9 and below it 80.25 as target zones. Below 82.9, expect panic selling and big downside intraday moves.
Jpy inr bottomed out?? Tgts 58.65 and then 62.45
Yen rupee future this week closed with gain at 57.84 with gain. This was first positive week for yen after last 6 weeks continues sell off. On downside yen rupee future achieved given target of 58.65 and below it given swing low of 57.3. But on daily chart price pattern suggesting bottomed out stage and upside for yen in upcoming weeks. For next week,remain bullish and buy on dips above 57.6 bottom support. On upside 58.65 and then 62.4 are resistances as well as reversal rally targets. From long term view, jpy inr future has taken support around 57.3 and might move towards 59.55 and 62.7 target zones.
Usd inr remain buy on dips tgts 68.02 and 69+
Dollar rupee future this week closed with loss. After last week recovery dollar seen some profit booking but remain strong. For next week, usd inr future might show some downside but remain buy on dips. On downside 67.7 and 67.4 are major support zones as well as fresh buying levels for usd inr pair. On upside 68.02 and then 69+ are target zones as well as resistances for dollar against rupee. From long term view,achieved its target of 68.6 and then correction and consolidation seen. Now fresh reversal might give breakout above 68.6 and head for second long term target of 70.9 rupee.