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Mtechtips MCX-SX USDINR INTRADAY trading analysis 04-11-2016

Thursday, November 3, 2016 23:13
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Mtechtips MCX-SX USDINR INTRADAY trading analysis 04-11-2016


MTECHTIPS The Dollar is weakening against Indian Rupee .Currently Dollar is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend .. The USDINR is now trading in oversold level. The JPYINR is now trading in oversold level. The oscillator is on BUY Signal and JPYINR is recovering from oversold level For short term Dollar is in HOLD LONG position.Positionally Support for USDINR is 66.69-66.67-66.64-66.62-.Resistance for the USDINR is 67.28-67.39-67.53-

In long term Dollar is relatively strengthening against Yen-

Short term and Intraday Level of Dollar with Rupee

Currently USDINR is in HOLD SHORT position The USDINR was in downtrend but yesterday market closed in confusion so book short if any or hold with tight stop at 67.043 If trades and sustain above 66.985 it is a covering signal The oscillator is showing SELL signal

Intraday Trend-The USDINR closed in a confusion manner So sell for intraday Only below 66.776 with a stop at 67.134 If opens above 67.134 or trade above 67.164 go for buy with stop at 66.806



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