USD-INR will it hit all time low, Weekly forecast

By | June 3, 2013

As discussed last week USD INR achieved all target above trend deciding level 56.USD is very near to ots life time high of 57.28 and any close above 56.75 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  has closed above  the resistance of 56.4. Symmetrical triangle formed in H4 charts achieved its target. USD has formed a Breakaway gap last week and it signify more higher levels to come.

 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. Negative divergence has started showing on Daily chart, confirmation will come once USD_INR starts trading below  56.00 which was breakaway gap zone.

 

 USD INR Weekly Chart

usdinrweekly

Weekly charts have broken the  perfect symmetrical triangle above 54.76 .Closed above the  demand zone of 56.4 above which it will make new life lows

 

USD – INR Trend Deciding Level:57.0500

USD – INR Resistance:57.31,57.80,58.50

USD – INR Support:56.55,56.05 and 55.30

Levels mentioned are USD – INR June Future

Follow on Facebook during Market Hours: http://www.facebook.com/pages/Brameshs-Tech/140117182685863

Leave a Reply