USD-INR WEEKLY 9313

THE PAIR FORMED A BEARISH ENGULFING PATTERN ON A WEEKLY CHART AND FAILED TO HOLD 55.35 LEVELS. BELOW 54.54 LEVELS THE PAIR LOOKS WEAK. TWO MORE CONSECUTIVE CLOSES BELOW 54.54 CAN LEAD THE PAIR TO 53.65. ON UPPER SIDE 54.8 IS THE RESISTANCE ABOVE THE SAID LEVEL IT CAN TGT 55.15-55.35 LEVELS. BELOW 54.54 SHORT POSITION CAN BE INITIATED WITH THE SL OF 54.8 FOR THE TGT OF 53.65. IMMEDIATE SUPPORT AT 54.2 AND 53.8

 

DOLLAR INDEX TO GAIN MOMENTUM

DOLLAR INDEX:

 

THE INDEX SUCCESSFULLY CROSSED THE WEEKLY RESISTANCE AROUND 81.7 AND KISSED THE GOLDEN RATIO AT 82.5..... LOOKING AT THE CHART WE BELIEVE THAT USD MAY GAIN STRENGTH AGAINST THE BASKET OF CURRENCIES IN COMING DAYS..... TWO OR MORE WEEKLY CLOSES ABOVE 82.5 CAN LEAD THE INDEX TO KISS 85 TO 85.5 LEVELS IN SHORT TERM......