usdinr forecast for next week 10 to 14 june 2013

usdinr forecast for next week 10 to 14 june 2013

 

usdinr daily chart technical analysis

usdinr spot pair last closed at 57.05 with gains.on daily chart dollar is in absolute uptrend with heavy demand momentum against rupee.

on chart trading above all short term averages and at new highs.on chart usdinr week average is 56.8.then 55.9 is month average and 55.05 is 3 month average and remain support from short term view.on upside now usdinr in uncharted territory but 57.5 and 58 remain phonological resistances.

usdinr trend and momentum indicators on daily chart,are in overbought zones and still with bullish divergences.

usdinr weekly chart technical analysis

usdinr pair this week closed with gains.this was 5th week of gains for dollar against rupee.in these 5 weeks dollar moved from 54 to 75+ and trending towards new highs.

on weekly chart,usdinr after taking support at 12 month average moved to new high and still trending higher.on downside54.75 is 6 month average,54.1 is 12 month average and 52.5 is 2 years average and last support of this bull market.

on weekly chart,usdinr trend and momentum indicators moving higher in overbought zones.

usdinr forecast for next week 10 to 14 june 2013

for next week,usdinr remain buy but on correction only.here expect correction and may take supports at averages then only buy.on upside 57.5 and then 58 remain near term targets.

from medium to long term view,correction remain shallow and rallies remain for long time.deep global crisis and bad domestic outlook will spurt dollar to new highs.now moving in 55-60 zone and may be if fundamental remain same then we may see 60-65 range till this year end?

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Pramod Baviskar

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