Spot at 79.99, after testing the high 80.35, It’s highly expected market would be corrected till 79.33-30 (65%), and 78.54 (35%), as it’s break 79.84, in coming sessions, traders can go for short and also take premium advantage for coming sessions. Exporters are advise to hedge at least 60-70% at 79.80 to 80.04, and Importers are free to hedge till 78.60.
ON the other hand if it’s also forming Bullish Flag
, if it’s break 80.24, will test 81.30 ( EUR INR Bullish
less chances as EUR USD is expecting to depreciate till 1.2010)
CURRENCY DRIVE by INFI
Currency risk management Advisory
INIFI FORX ADVISORY