USD INR Weekly Trading Forecast

By | May 27, 2013

As discussed last week USD INR achived all target above trend deciding level 55.20.USD is very near to ots life time high of 57.28 and any close above 56.4 will lead towards the life highs. Lets analyze USD INR technical for coming week.

USD INR 4 Hour Chart

usdinrh4

USD INR 4 hour chart will  enter the important trading  range of 56-56.4 which has not been traded from past 6 months as depicted by 2 res line in above chart.

 USD INR Daily Chart


usdinrdaily

As per Daily charts INR has closed above its 200 DMA which is bullish signal. Also it has closed above its symmetrical triangle which again shows a bullish picture. Target for Symmetrical triangle comes at 54.76+(55.84-52.88) =57.72

 

 USD INR Weekly Chart

usdinrweekly

Weekly charts have broken the  perfect symmetrical triangle above 54.76 .Now entering the demand zone of 56-56.4 above which it will make new life highs.

 

USD – INR Trend Deciding Level:56

USD – INR Resistance:56.40,56.80,57.20

USD – INR Support:55.30,54.90 and 54.50

Levels mentioned are USD – INR May Future

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