Dollar
– Vs –Rupee
SUPPORT:75.05/74.98/74.86/74.52/74.43/7429/74.16/73.97/73.64/73.39/73.14/72.95/72.80/72.71/72.29---72.25.
RESISTANCE: 75.51/75.78/76.34/76.8/77.34/77.42/77.45/77.75/78.35/79.30.
TECHNICAL OBSERVATION :-
It is bullish
on the chart but weekly chart will pose some hurdles at the higher levels and
the critical resistance points moving up would be at 75.51---75.78---76.22---76.41, please note that
sustained close above 75.78 will
make sure that it could rise further and if it could move above 76.41 and sustain on the closing basis
then it could retest its all time-high of 77.45
or may go beyond to the level up to 77.75---78.35---79.30,
chances of retesting its all time-high is pretty bright at this point of
time. The overall technical setup is good as of now and long term bias is on
the upside as long as it holds the
range of 73.95---73.25(these figure can
change) levels. Please note that sustained break below 73.25 on the closing basis can potentially threaten the uptrend.
Remarks:-- The long term trend is bullish now, it is
suggested to structure your trade with the help of support ,resistance other
critical points mentioned above. The bias is positive as of now.
Kindly note that make your cost your
stop loss in favorable trade and then
trail it as the price move up/down to gain maximum profit and avoid losses. Use
support and resistance levels as entry, exit, target and trailing stop loss
points. DO NOT TRADE WITHOUT STOP LOSS.
Disclaimer:-The
view expressed here are solely of the author and he is not at all responsible
in any way for the outcome of the trade you enter based on the above view.
Note: Price stated here is of spot market
Contact
me for strategic guidance to enter and exit the trade
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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