Eur inr oversold and bottomed out?
Eur inr future today closed at 71.78. On downside euro achieved my sell target of 71.6 and bounced back. Eur inr pair is oversold on daily chart and looks like bottomed out today. For tomorrow, watch for upside breakout and targets of 72.1 to 72.3.
Gbp inr correction over now buy
Gbp inr future today closed at 85.85 with gain. Pound after hitting my target of 87 rupee given strong correction up to 85 rupee level. But as expected remain bullish trend lifted pound above 84.5 and now heading towards 87 and 88.6 levels. Gbp inr for intraday remain buy on dips for targets 86.2 to 86.4.
Jpy inr future hit swing short target 58.6 next 56.4
Yen rupee future today closed at 58.65 with loss. As expected yen continues its weak trend and hit my December swing sell target of 58.6 on downside. Below 58.6 next major support as well as target zone will be 56.4. But yen is deeply oversold on daily chart and any strong bounce back can trigger reversal rally for target 58.8 to 58.95 in intraday. While positionally reversal from here means positional target up to 62.45.
Usd inr future oversold and my bounce back
today closed at 67.6. Usd inr future in in downtrend and we saw low of 67.4. On downside 67.1 is my sell position target but now look like usd inr future has made bottom at 67.4 and now moving upwards. For tomorrow, usd inr upside targets will be 67.71 and then 67.86.