Mtechtips MCX-SX USDINR INTRADAY trading analysis 24-11-2016
MTECHTIPS The Dollar is Strongly strengthening against Indian Rupee .Currently Dollar is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The USDINR is now trading in oversold level. The USDINR is now trading in oversold level. The oscillator is showing BUY signal For short term The current position is BUY and closed above 1 month high with volume signals up breakout.Positionally Support for USDINR is 67.48-67.21-67.01-66.98-66.89-66.8-66.79-. Immediate resistance for USDINR is 68.87
Short term and Intraday Level of Dollar with Rupee
USDINR closed above 1 week high with volume signals up breakoutCurrently USDINR is in HOLD LONG position In short term USDINR is in strong up trend so hold with stop at 68.105 The USDINR is now trading is approaching overbought level. The USDINR is now trading is approaching overbought level. The oscillator is showing SELL signal
Intraday Trend- is in intraday buy level better buy above 68.807 or in low buy above 68.323 Target is 68.908 next 69.078 Below 68.223 trend reversal can occur so keep long stop at 68.223.