Mtechtips MCX-SX USDINR WEEKLY trading analysis 5-05-2015
MTECHTIPS dollar rupee future on last trading session closed at 63.8 with loss. on daily chart, dollar is in uptrend with strong buying momentum. in last week we had seen almost 1 rupee rise in dollar on fresh buying.for next week, pair outlook is bullish and above 63.6 keep long view for target 64 and above. daily chart indicators are with bullish patterns but heading higher in overbought conditions.for short term traders, above 63.4 outlook will remain bullish for target 64.05 and then 64.75. at current level risk reward is not favorable for fresh buyers.from medium term view, usd/inr future price trend and momentum both are strong bullish. dollar is making higher tops and bottom against rupee. for investors above 63 rupee level will remain buy and outlook will remain bullish. on upside 64.4 to 65.35 are target zones expect in next 3 month plus.
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