| Online: | |
| Visits: | |
| Stories: |
Mtechtips MCX-SX USDINR WEEKLY trading analysis 18-05-2015
Mtechtips MCX-SX USDINR WEEKLY trading analysis 18-05-2015
MTECHTIPS USD INR future this week closed with loss. This week dollar rupee future high was around 64.5 while low was around 63.5. Total almost 1-rupee range or 2% volatility seen in this week. This was first weekly loss for us dollar against rupee after last 4 weeks straight gains.On daily chart, usd inr future price trend is bullish but momentum is bearish on correction phase. Usd inr future is trading at 1-month average and way above its 3-month average of 63. For next week, traders must watch 63.3-support zone on daily closing basis. If sustain above it then expect stronger dollar rally for targets 64.5 and then 65.25. On downside below 63.3 downcycle will start for target 62.5 and below.From medium to long-term view, above 63 us dollar will remain buy and bullish. Upside 64.4 and 65.35 are medium term target. 64.4 is already achieved in last move.
WWW.MTECHTIPS.COM
07489294118-119
