{"id":5547,"date":"2024-02-01T09:51:48","date_gmt":"2024-02-01T04:21:48","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=5547"},"modified":"2024-09-03T16:56:13","modified_gmt":"2024-09-03T11:26:13","slug":"currency-market-overview-february-1-2024","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/currency-market-overview-february-1-2024\/","title":{"rendered":"CURRENCY MARKET OVERVIEW :"},"content":{"rendered":"
The pair has the major support at 83.00(Spot) levels. Short covering is expected in short run. Fresh buying opportunity <\/strong>will be seen at 83.47 levels which is also an all time high. The broad range for the week is 83.30-82.80 levels. In Short <\/strong>term, more buying opportunity is expected as the pair took strong support at 83.00 levels. Break down below this level <\/strong>will see a drop to 82.80, portraying the confluence of the lower limit of the trading range and a low of Sep 12. The next <\/strong>contention level will emerge near a low of Aug 11 at 82.60. The momentum indicators show the upward signal and <\/strong>hence buying is expected in near term. The major support would be 82.70 which is also a 200 day SMA. Breakdown <\/strong>below this level will give more selling opportunity and then the target 82.45\/82.15 levels.<\/strong><\/p>\r\n <\/p>\r\n CLICK TO OPEN FOR MORE INFORMATION ABOUT CURRENCY UPDATE :\u00a0<\/strong><\/p>\r\n