Dollar rupee Currency futures technical analysis for 19 to 23 November 2018.
DOLLAR INR Future Daily Chart Technical Analysis
Dollar rupee future of November expiry on Friday closed at 72 with loss. On daily chart Dollar rupee future price trend and momentum both are very bearish. Dollar rupee future is trading below 5& 50 day’s averages of 72.4-72.5 and heading towards 100 days average support level of 71.
Dollar rupee future hit November bearish swing target of 73.1 and 72. Here reversal or fresh breakdown can come so keep wait and watch view. Below 72 expect super bearish trend and lower targets of 71.2 & then 70.15. But if reversal comes then expect sharp rallies towards 73-74 levels.
Dollar rupee daily chart stochastics is bearish and in oversold zones but with bearish signals. Dollar rupee daily chart MACD is below zero with early bottomed out signals.
For month of November, Dollar rupee future below 73.9 was remain sell on rise and on downside technical target zones were around 73.1 and then 72. Both are done and now we will wait for next up or downside move before taking any positions.
But Dollar rupee future if slips below 72 & sustain then expect super bearish trend for this forex cross and Dollar might fall up to 71.2 to 70.15 rupee on fresh strong selling.
Dollar rupee future weekly chart technical analysis
Dollar rupee future on weekly chart showing losses for this week. In this week Dollar corrected from 73.2 to almost 71.79 means almost 1.4 rupee fall or 2% downside from record highs. On weekly chart, Dollar rupee future is in corrective mode and trading below 5 week’s averages which are around 72.6 and heading lower towards 20 & 50 weeks averages which are around 71.35 and below it 69 support level.
From medium to long term view, Dollar rupee future achieved 2018’s all bullish and super bullish buy targets of 67.2 and then 70.25 and then 71.95 and lastly almost hit 75, now correcting towards them. Below 72 expect deeper correction towards major long term support of 70.2 & 67.2 rupees. But if sustain above 72 then bullish trend continuation and levels of 75 and above.
Dollar rupee future Weekly chart, stochastics indicator is around 63 with bearish crossovers and with sell signal. Weekly chart MACD is below zero and given sell signal around 74.4.
For genuine NSE Currency tips with support and follow ups, subscribe to our Forex advisory services.
Share It
BLOG AUTHOR
Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
0 comments:
Post a Comment