Mtechtips MCX-SX USDINR INTRADAY trading analysis 04-12-2018

Mtechtips MCX-SX USDINR INTRADAY trading analysis 04-12-2018

Mtechtips   Dollar is weakening against Indian Rupee .Currently Dollar is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. 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 Dollar is in SELL position.Positionally Support for USDINR is 68.48-.Resistance for the USDINR is 71.17-71.57-71.73-72.39-72.51-73.1- Short term and Intraday Level of Dollar with Rupee Last few days JPYINR is moving down Currently USDINR is in HOLD SHORT position The USDINR is in downtrend .Last day USDINR was in bull trend So short term buyers buy if close above 70.372 The USDINR is now trading is approaching oversold level. The USDINR is now trading is approaching oversold level. The oscillator is showing SELL signal Intraday Trend- Buy the USDINR above 70.982 with a stop at 70.04 Target is 71.202 next 71.563 Below 70.04 trend reversal can occur so keep long stop at 70.04

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