Eur inr weekly-below 72 remain bearish tgt 70.4 and below
Gbp inr weekly-almost hit my target 84.6 this week
Pound rupee future this week closed at 84.3 with gain. This was second weekly gains for pound against rupee and in these 2 weeks pound rallied from low of 83.2 to high of 84.5. Total 1.3 rupee or 1.5% gains in 2 weeks. Gbp inr future is bearish and bouncing back towards resistance of 84.65 to test it. Which might over in this week. For next week, pound remain sell below 84.65 and traders can expect downside target of 82.25 and below in next week. If pound sustain above 84.65 for 2-3 trading session then only it confirm uptrend for pound against rupee. Daily chart price pattern as well as indicators are bullish but at resistance levels. Gbpinr long term chart are bearish and pound is in absolute downtrend against rupee. For 2017, pound is heading towards 76.5 target. Below 88.5 gbp will remain weak and sell on rise for long term investors.
Jpy inr weekly-hit 58.9 target now expect downside
Usd inr weekly-above 68 keep long view for target 68.7
Usd inr future this week closed with loss. Rupee seeing some value buying on lower levels and after last week sharp fall recovering from lows on RBI action. Usd inr future above 68 rupee level remain bullish means weak rupee and strong US dollar. On upside my target is at 68.7 and might show this target in this week. Usd inr future on weekly chart is in higher tops and bottom cycle and this time expect fresh top above 68.94. If usd inr sustain below 68 for 2-3 trading sessions then expect rupee breakout for targets 67.45 and below. For long term,above 67.7 on weekly closing basis remain bullish and buy for target 69.4 and above in 2017.