Mtechtips MCX-SX JPYINR intraday trading analysis 27-05-2013

Mtechtips MCX-SX USDINR  intraday trading analysis 27-05-2013

Mtechtips usdinr spot or dollar against rupee closed at 55.79 with gains in last trading session.on daily chart after breakout at 54.3 we seen sharp short covering rally in us dollar.and made high near 56. on above daily chart,we can see usdinr trading above all short term averages with great bullish momentum.on chart usdinr week average is 55.51 then 54.82 is month average and 54.49 is 3 month average and last support from short term.on momentum side looks some what overbought on daily chart.

usdinr on weekly chart showing big gains in this week with bullish breakout.usdinr now trading way above medium to long term averages and heading towards previous highs made in may 2012. on chart usdinr 6 month average is 54.42 and first support on downside then 53.85 is 12 month average and 52.25 is 2 years average and last support on downside.while on upside 57 is only top resistance remaining.

for next week,usdinr outlook remain buy on dips.our given target of 56 achieved now look for 56.5 and then 57 but correction is due and after correction we may see same sharp run n usd as dollar index inching towards recent historic highs. from medium term view 56 is achieved now expect 57 in upcoming weeks after some correction and consolidation.54.4 is re-entry level for new investors in usdinr.in longer term target of 60-62 is intact.if dollar index touched 90 as it is heading towards it we may see 62-65 levels here in india for usdinr spot.

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Mtechtips MCX-SX EURINR  intraday trading analysis 27-05-2013

Mtechtips eurinr or euro against rupee spot pair last closed at 72.11 with gains.on daily chart euro trend is bullish while momentum reached at overbought zone. on chart eurinr trading way above all short term averages.euro rupee week average is 71.64 and first support on downside.71.02 is month average and 70.9 is 3 month average and last support from short term view.on upside 72.5-72.6 is only resistance zone from short term view.  

eurinr pair this week closed with sharp gains as rupee tumbled comparative to euro and closed with breakout.on weekly chart trading above all medium to long term averages and heading towards previous highs.this week euro rupee pair made low at 70.39 while high was 72.2 total almost 2 rupee move and near our given target of 72.5.

for upside next major resistance as well as target will be 73.5.on downside 70.9 is 6 month average and 70.15 is 12 month average level.in last 68.61 is 2 years average and last long term support level for euro against rupee.  or next week expect rally to continue as rupee tumbling.above 71 level hold buy on dips view and keep target at 72.5 and then 73.our given target of 72.5 is almost achieved in this wee as hit high at 71.2.re-enter on correction only. from medium to long term view,here we see sharp run and expect new high may be in next 4-6 weeks time frame.on upside 73.5 is only resistance remaining if takes out we may see 75-76 very fast.on downside 70 is base for investors and also re-entry point on correction.

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Mtechtips MCX-SX GBPINR  intraday trading analysis 27-05-2013

Mtechtips gbpinr or pound against rupee rupee spot last closed at 84.41 with gains.on daily chart gbpinr pound trend and momentum is bullish against rupee.pound rupee pair trading above all short term averages and holding breakout given at 83.5. on chart gbpinr week average is 84,then 83.65 is month average and in last 83.5 is 3 month average and last support on downside for pound against rupee from short term view.trend and momentum indicators still with bullish divergence and supporting pound demand as compared to rupee.

gbpinr on weekly chart showing gains and breakout in this week.on chart now trading above 6 and 12 month averages.on upside 86 and 89.9 are major long term resistances but as closed above 6 month average it is buy signal from medium term view.

on downside gbpinr 6 month average is 84.17 while 12 month average is 84.07 both are strong support zone for medium term.in last 82.1 is 2 years average and last support from long term view. or next week,above 83.5 on closing basis hold buy on dips view and keep upside target near 85 and then 86.this week closed at highs means pound demand is on high against rupee.

from medium to long term view above 82.1 remain bullish for now.on upside keep targets at 86 and then 89.9.for next if closed above 84 the breakout is get support of follow up buying and 86 will be seen in next 4-6 weeks against rupee.pound is oversold against dollar ,bounce back and reversal in that will push gbpinr rally to previous highs.

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Mtechtips MCX-SX JPYINR  intraday trading analysis 27-05-2013

Mtechtips jpyinr spot or yen against rupee last closed at 55.06 with gains.on daily chart we seen sharp reversal in yen from 53 level and now near 3 month average on daily chart. on chart,jpyinr 3 month average is 55.85 and only resistance remain from short term view.below that 54.3-54.4 is month and week averages and and act as support zone for short terms.on indicators jpyinr cci level on daily chart is +69 and with bullish divergence while rsi is at 49 and at fresh breakout level.

jpyinr pair in this week closed with gains after many weeks downfall.on chart for now look like reversal sign but not yet confirmed.this week jpyinr made low at 53.4 while high was 55.3 total almost 2 rupee recovery from bottom.on weekly chart yen rupee all major averages still way above around 58 to 61.5 zone.on indicators on weekly chart showing off the lows from oversold zones and slowly forming bullish divergences.

for next week above 54.3-54.4 zone on closing basis hold long view and expect breakout above 55.85.if fall below 54.3 and trade below it for 2-3 session then it will resume downtrend and head towards new lows.then this was nothing but dead cat bounce back. from medium to long term view,on pattern on chart and indicators we see 53 is new bottom and we may see minimum bounce back run upto 58 here.below 53 on weekly closing basis long term bear market will resume and targets remain at 52 and 48.above 58 on weekly closing basis will confirm reversal in yen from medium to long term view.

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