Home ForexUpdate on USD-INR – 9.Feb.2015
Update on USD-INR – 9.Feb.2015

Update on USD-INR – 9.Feb.2015

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Update on USD/INR - 10.Feb.2015
Update on USDINR - 6.Feb.2015

Hi all,
Welcome back after weekend.
Today we saw USD/INR opened very high at 62.2050 against Friday’s closing LTP of 61.9150. Hence my target for Friday 62.0650 was hit before opening. On Friday, I wrote I was expecting the pair to touch 62.06 atleast...
This could be due to positive NFP data from U.S and some technical reasons which I wrote on last Friday’s blog post.
After opening and recording a Daylow of 62.1950, the pair rallied upto 62.4350 (Dayhigh). Closing LTP was 62.39
Technical Analysis:-
It was a pure bullish day for USD/INR where it opened well above Fibo pivot. The resistances at 62.22 and 62.39 were broken and 62.56 is the resistance that was left unhit.
Williams %R indicator showed that the pair is in Sell zone but DMI indicator and IV analysis gave a strong Bullish signal. Also Nifty and BSE Sensex plunged today due to exit poll results from New-Delhi which were probably against BJP govt: in the center.

Technical Indicators support a Buy call for tomorrow morning too.

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