Currency Forecast
Forecast Date:
July 26, 2024
Support and Resistance levels in currency forecasting are key price points where a currency tends to halt and reverse its direction. Support levels indicate where a currency's price is likely to stop falling and begin to rise, while resistance levels mark where the price is expected to stop rising and start to fall.
USD/INR
| Pivot |
83.7213 |
| Support 1 |
83.6817 |
Resistance 1 |
83.7627 |
| Support 2 |
83.6403 |
Resistance 2 |
83.8023 |
| Support 3 |
83.6007 |
Resistance 3 |
83.8437 |
| Bollinger Upper |
83.7934 |
| Bollinger Lower |
83.3657 |
EUR/INR
| Pivot |
90.8784 |
| Support 1 |
90.7589 |
Resistance 1 |
91.0059 |
| Support 2 |
90.6314 |
Resistance 2 |
91.1254 |
| Support 3 |
90.5119 |
Resistance 3 |
91.2529 |
| Bollinger Upper |
91.6431 |
| Bollinger Lower |
89.6975 |
Bollinger Bands, a widely used tool among investors and traders, help measure the volatility of currencies to assess if they are over- or undervalued. Developed in the 1980s by financial analyst John Bollinger, the bands are depicted on currency charts as three lines that follow the price movement. The center line represents the currency's 20-day simple moving average (SMA). The upper and lower bands are positioned a certain number of standard deviations, typically two, above and below this middle line.
The bands expand when a currency's price becomes more volatile and contract when it stabilizes. Many traders interpret a currency as overbought when its price approaches the upper band and oversold when it nears the lower band, indicating a potential opportunity to trade.
Disclaimer:
Currency forecasts are based on technical analysis and sourced from trusted providers. IBRLIVE does not generate its own forecasts. These forecasts are subject to frequent changes due to current and future events and may differ from actual prices. Users should not rely solely on these forecasts for making financial decisions. IBRLIVE assumes no responsibility for any financial decisions made based on the provided forecasts.
